Independent Advisor Alliance Sells 351 Shares of RTX Co. (NYSE:RTX)

Independent Advisor Alliance decreased its holdings in RTX Co. (NYSE:RTX) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,565 shares of the company’s stock after selling 351 shares during the period. Independent Advisor Alliance’s holdings in RTX were worth $5,736,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Meriwether Wealth & Planning LLC bought a new stake in RTX in the 4th quarter valued at $318,000. Johnson Investment Counsel Inc. increased its holdings in shares of RTX by 14.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 32,966 shares of the company’s stock worth $3,815,000 after purchasing an additional 4,142 shares during the last quarter. Tiemann Investment Advisors LLC lifted its position in shares of RTX by 1.2% in the fourth quarter. Tiemann Investment Advisors LLC now owns 7,789 shares of the company’s stock worth $901,000 after buying an additional 90 shares in the last quarter. Tower Wealth Partners Inc. bought a new position in RTX during the fourth quarter valued at approximately $205,000. Finally, Daiwa Securities Group Inc. grew its holdings in RTX by 8.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 176,831 shares of the company’s stock valued at $20,463,000 after buying an additional 14,523 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.3 %

NYSE:RTX opened at $128.16 on Wednesday. The stock has a fifty day simple moving average of $124.54 and a 200-day simple moving average of $121.97. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $170.73 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a twelve month low of $89.44 and a twelve month high of $135.36.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RTX shares. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna increased their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Morgan Stanley boosted their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $142.00 to $147.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.40.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s 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 sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.13% 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.