Xcel Wealth Management LLC Sells 2,535 Shares of RTX Co. (NYSE:RTX)

Xcel Wealth Management LLC lowered its holdings in shares of RTX Co. (NYSE:RTX) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,545 shares of the company’s stock after selling 2,535 shares during the period. Xcel Wealth Management LLC’s holdings in RTX were worth $2,853,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Global Assets Advisory LLC purchased a new stake in shares of RTX in the 1st quarter worth about $7,523,000. New England Professional Planning Group Inc. purchased a new stake in RTX in the first quarter worth about $205,000. DLK Investment Management LLC boosted its position in RTX by 5.1% during the 1st quarter. DLK Investment Management LLC now owns 59,923 shares of the company’s stock valued at $5,844,000 after acquiring an additional 2,900 shares in the last quarter. Hoxton Planning & Management LLC purchased a new position in shares of RTX during the 1st quarter worth approximately $233,000. Finally, Parkside Investments LLC bought a new position in shares of RTX in the 1st quarter worth approximately $975,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RTX. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and upped their target price for the stock from $109.00 to $129.00 in a research report on Thursday, October 3rd. Susquehanna raised their target price on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Citigroup boosted their price target on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada increased their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $162.50.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last quarter. Insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX traded down $0.51 during mid-day trading on Tuesday, reaching $125.39. The stock had a trading volume of 2,818,592 shares, compared to its average volume of 6,766,965. The business has a fifty day moving average of $121.09 and a 200 day moving average of $110.74. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market cap of $166.71 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 2.24 and a beta of 0.82. RTX Co. has a 12 month low of $72.52 and a 12 month high of $128.66.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. Equities analysts predict that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 98.82%.

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.