Richard Bernstein Advisors LLC Lowers Stock Position in RTX Co. (NYSE:RTX)

Richard Bernstein Advisors LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 27.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,761 shares of the company’s stock after selling 10,151 shares during the period. Richard Bernstein Advisors LLC’s holdings in RTX were worth $3,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in RTX. Concord Wealth Partners increased its stake in RTX by 13.3% in the 3rd quarter. Concord Wealth Partners now owns 757 shares of the company’s stock worth $92,000 after acquiring an additional 89 shares during the last quarter. Orrstown Financial Services Inc. increased its position in shares of RTX by 129.4% during the 3rd quarter. Orrstown Financial Services Inc. now owns 10,965 shares of the company’s stock valued at $1,329,000 after purchasing an additional 6,185 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of RTX by 30.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,104 shares of the company’s stock valued at $639,000 after purchasing an additional 1,192 shares during the last quarter. abrdn plc increased its position in shares of RTX by 527.6% during the 3rd quarter. abrdn plc now owns 605,790 shares of the company’s stock valued at $72,852,000 after purchasing an additional 509,261 shares during the last quarter. Finally, Traynor Capital Management Inc. bought a new position in shares of RTX during the 3rd quarter valued at approximately $245,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the topic of several analyst reports. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Barclays boosted their price objective on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Up 1.5 %

NYSE RTX opened at $127.30 on Wednesday. The company’s 50-day simple moving average is $121.84 and its two-hundred day simple moving average is $121.13. RTX Co. has a one year low of $88.95 and a one year high of $132.43. The company has a market capitalization of $169.58 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.