Envestnet Portfolio Solutions Inc. Acquires 664 Shares of RTX Co. (NYSE:RTX)

Envestnet Portfolio Solutions Inc. lifted its holdings in RTX Co. (NYSE:RTX) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,470 shares of the company’s stock after purchasing an additional 664 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in RTX were worth $9,428,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. one8zero8 LLC acquired a new stake in RTX during the fourth quarter worth about $3,891,000. Choate Investment Advisors grew its position in RTX by 9.0% during the fourth quarter. Choate Investment Advisors now owns 34,920 shares of the company’s stock worth $4,041,000 after buying an additional 2,870 shares in the last quarter. Diversified Enterprises LLC grew its position in RTX by 11.7% during the fourth quarter. Diversified Enterprises LLC now owns 2,380 shares of the company’s stock worth $275,000 after buying an additional 250 shares in the last quarter. Natixis Advisors LLC grew its position in RTX by 9.1% during the fourth quarter. Natixis Advisors LLC now owns 1,351,320 shares of the company’s stock worth $156,376,000 after buying an additional 112,873 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in RTX by 9.3% during the fourth quarter. Frank Rimerman Advisors LLC now owns 6,229 shares of the company’s stock worth $721,000 after buying an additional 531 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Susquehanna lifted their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Five investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Stock Performance

RTX stock opened at $131.86 on Tuesday. The company has a 50 day moving average price of $125.69 and a 200 day moving average price of $122.23. The stock has a market capitalization of $176.04 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a fifty-two week low of $92.35 and a fifty-two week high of $135.36. 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 earnings results on Tuesday, January 28th. The company reported $1.54 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%. Analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’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 owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.13% of the company’s stock.

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.