ProVise Management Group LLC Cuts Holdings in RTX Co. (NYSE:RTX)

ProVise Management Group LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,753 shares of the company’s stock after selling 213 shares during the period. ProVise Management Group LLC’s holdings in RTX were worth $7,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. CX Institutional raised its stake in shares of RTX by 21.9% during the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after buying an additional 11,706 shares in the last quarter. National Pension Service raised its stake in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after buying an additional 375,781 shares in the last quarter. LRI Investments LLC raised its stake in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after buying an additional 4,732 shares in the last quarter. Czech National Bank raised its stake in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after buying an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in shares of RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after acquiring an additional 4,151 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 0.4 %

Shares of RTX stock opened at $132.57 on Wednesday. RTX Co. has a fifty-two week low of $94.03 and a fifty-two week high of $135.36. The firm has a market cap of $176.99 billion, a PE ratio of 37.34, a P/E/G ratio of 2.11 and a beta of 0.78. The business’s fifty day moving average is $126.04 and its two-hundred day moving average is $122.30. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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 analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

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. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value 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 approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.40.

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.