Wedbush Securities Inc. Grows Holdings in RTX Co. (NYSE:RTX)

Wedbush Securities Inc. raised its position in RTX Co. (NYSE:RTX) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,529 shares of the company’s stock after buying an additional 4,181 shares during the period. Wedbush Securities Inc.’s holdings in RTX were worth $4,459,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter worth $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Modus Advisors LLC purchased a new position in shares of RTX in the 4th quarter worth about $39,000. Millstone Evans Group LLC bought a new position in RTX during the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in RTX during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RTX. Susquehanna lifted their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.40.

Insider Buying and Selling at RTX

In other news, EVP Ramsaran Maharajh sold 19,431 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the sale, the executive vice president now owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Down 9.8 %

RTX stock opened at $117.43 on Friday. The stock has a market cap of $156.78 billion, a P/E ratio of 33.08, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The firm’s fifty day moving average price is $129.05 and its 200-day moving average price is $123.35. 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 released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. RTX’s dividend payout ratio is presently 70.99%.

RTX Profile

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.