Cahaba Wealth Management Inc. Sells 958 Shares of RTX Co. (NYSE:RTX)

Cahaba Wealth Management Inc. lessened its holdings in RTX Co. (NYSE:RTXFree Report) by 14.5% in the fourth quarter, Holdings Channel reports. The firm owned 5,640 shares of the company’s stock after selling 958 shares during the period. Cahaba Wealth Management Inc.’s holdings in RTX were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Regent Peak Wealth Advisors LLC grew its stake in shares of RTX by 47.7% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 29,731 shares of the company’s stock worth $2,502,000 after acquiring an additional 9,602 shares during the period. TIAA Trust National Association grew its stake in shares of RTX by 1.2% during the 4th quarter. TIAA Trust National Association now owns 115,133 shares of the company’s stock worth $9,687,000 after acquiring an additional 1,326 shares during the period. FAS Wealth Partners Inc. boosted its stake in RTX by 3.4% in the 4th quarter. FAS Wealth Partners Inc. now owns 7,577 shares of the company’s stock worth $638,000 after purchasing an additional 249 shares during the period. Welch Group LLC boosted its stake in RTX by 2.7% in the 4th quarter. Welch Group LLC now owns 529,415 shares of the company’s stock worth $44,545,000 after purchasing an additional 14,057 shares during the period. Finally, State of Michigan Retirement System boosted its stake in RTX by 0.3% in the 4th quarter. State of Michigan Retirement System now owns 432,232 shares of the company’s stock worth $36,368,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX traded up $0.79 during trading hours on Tuesday, reaching $98.55. 6,758,636 shares of the stock traded hands, compared to its average volume of 8,122,265. The company has a market capitalization of $131.04 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. RTX Co. has a 52-week low of $68.56 and a 52-week high of $104.91. The company’s 50-day simple moving average is $91.90 and its two-hundred day simple moving average is $83.93.

RTX (NYSE:RTXGet Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.27 EPS. Equities research analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.39%. RTX’s dividend payout ratio (DPR) is currently 105.36%.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock valued at $3,448,188 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on RTX. TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Robert W. Baird restated a “neutral” rating and issued a $94.00 target price (up previously from $88.00) on shares of RTX in a research note on Tuesday, January 16th. UBS Group raised their price target on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Barclays raised their price target on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Hold” and an average price target of $95.12.

Check Out Our Latest Analysis on RTX

About RTX

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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