Principle Wealth Partners LLC Decreases Stake in RTX Co. (NYSE:RTX)

Principle Wealth Partners LLC decreased its holdings in RTX Co. (NYSE:RTX) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 123,096 shares of the company’s stock after selling 664 shares during the period. RTX makes up approximately 1.0% of Principle Wealth Partners LLC’s investment portfolio, making the stock its 25th largest position. Principle Wealth Partners LLC’s holdings in RTX were worth $14,245,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Avestar Capital LLC boosted its position in shares of RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after buying an additional 85 shares during the period. Arbor Wealth Advisors LLC boosted its holdings in RTX by 3.7% during the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after acquiring an additional 85 shares during the period. Moloney Securities Asset Management LLC increased its stake in RTX by 0.7% during the fourth quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock worth $1,481,000 after purchasing an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of RTX by 20.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC boosted its stake in shares of RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after purchasing an additional 86 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RTX shares. Royal Bank of Canada increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group upped their price target on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

RTX Stock Performance

NYSE RTX opened at $128.11 on Tuesday. The company has a fifty day moving average of $120.18 and a two-hundred day moving average of $120.38. The company has a market capitalization of $170.65 billion, a PE ratio of 36.09, a P/E/G ratio of 2.17 and a beta of 0.82. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. As a group, analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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

About RTX

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.