Avantax Advisory Services Inc. Trims Position in RTX Co. (NYSE:RTX)

Avantax Advisory Services Inc. trimmed its position in RTX Co. (NYSE:RTX) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,861 shares of the company’s stock after selling 22,686 shares during the period. Avantax Advisory Services Inc.’s holdings in RTX were worth $9,496,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its stake in RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after purchasing an additional 28,910 shares during the period. Mather Group LLC. boosted its holdings in shares of RTX by 8.5% during the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares during the last quarter. Rockline Wealth Management LLC purchased a new position in shares of RTX during the fourth quarter valued at about $2,438,000. AllGen Financial Advisors Inc. boosted its stake in RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after buying an additional 3,657 shares during the last quarter. Finally, PDS Planning Inc bought a new position in shares of RTX during the 4th quarter valued at approximately $356,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

NYSE RTX opened at $105.37 on Tuesday. RTX Co. has a 12-month low of $68.56 and a 12-month high of $107.82. The firm’s fifty day simple moving average is $98.45 and its two-hundred day simple moving average is $89.90. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $140.09 billion, a P/E ratio of 41.49, a P/E/G ratio of 1.91 and a beta of 0.84.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the business posted $1.22 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts forecast that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.39%. RTX’s payout ratio is 92.55%.

Insider Activity at RTX

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold a total of 135,618 shares of company stock valued at $13,397,978 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Royal Bank of Canada increased their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Barclays boosted their price objective on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Citigroup lifted their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Finally, Susquehanna raised their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $96.93.

RTX Company 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.