RTX Co. (NYSE:RTX) is Phraction Management LLC’s 9th Largest Position

Phraction Management LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 0.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 100,493 shares of the company’s stock after selling 652 shares during the period. RTX comprises about 4.1% of Phraction Management LLC’s holdings, making the stock its 9th largest position. Phraction Management LLC’s holdings in RTX were worth $11,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Avestar Capital LLC increased its holdings in RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after buying an additional 85 shares in the last quarter. Arbor Wealth Advisors LLC increased its holdings in RTX by 3.7% in the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after buying an additional 85 shares in the last quarter. Moloney Securities Asset Management LLC increased its holdings in RTX by 0.7% in the 4th quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock worth $1,481,000 after buying an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in RTX by 20.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after buying an additional 86 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC increased its holdings in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after buying an additional 86 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RTX. Barclays boosted their price target on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group boosted their target price on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock opened at $126.82 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $168.94 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The business has a fifty day moving average of $120.55 and a two-hundred day moving average of $120.53.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.99%. RTX’s dividend payout ratio (DPR) is presently 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.