Concurrent Investment Advisors LLC Cuts Stock Position in RTX Co. (NYSE:RTX)

Concurrent Investment Advisors LLC reduced its position in RTX Co. (NYSE:RTX) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,760 shares of the company’s stock after selling 492 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in RTX were worth $7,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX in the 3rd quarter worth about $29,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX in the 3rd quarter valued at about $41,000. Modus Advisors LLC bought a new stake in shares of RTX in the 4th quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter valued at about $40,000. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 1.2 %

Shares of NYSE:RTX opened at $125.26 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market capitalization of $166.87 billion, a P/E ratio of 35.29, a P/E/G ratio of 2.09 and a beta of 0.82. The stock has a 50 day moving average price of $121.20 and a 200-day moving average price of $120.80. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business 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 $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s payout ratio is currently 70.99%.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent research reports. Susquehanna boosted their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.07.

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.