RTX Co. (NYSE:RTX) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 69,252 shares of the company’s stock after selling 181 shares during the quarter. Evercore Wealth Management LLC’s holdings in RTX were worth $8,014,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC bought a new position in RTX during the 4th quarter worth approximately $39,000. Millstone Evans Group LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter valued at approximately $40,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $113.98 on Wednesday. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17. The firm has a market capitalization of $152.17 billion, a PE ratio of 32.11, a P/E/G ratio of 2.11 and a beta of 0.58. The company’s 50 day simple moving average is $128.33 and its 200 day simple moving average is $123.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.21%. RTX’s dividend payout ratio (DPR) is 70.99%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Citigroup decreased their price target on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada increased their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $165.27.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last quarter. Insiders own 0.15% of the company’s stock.

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.