Oppenheimer & Co. Inc. Lowers Position in RTX Co. (NYSE:RTX)

Oppenheimer & Co. Inc. decreased its position in RTX Co. (NYSE:RTX) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,285 shares of the company’s stock after selling 6,859 shares during the period. Oppenheimer & Co. Inc.’s holdings in RTX were worth $18,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New England Professional Planning Group Inc. increased its holdings in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after acquiring an additional 81 shares during the period. Pointe Capital Management LLC increased its holdings in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after acquiring an additional 81 shares during the period. Avestar Capital LLC increased its holdings in shares of RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after acquiring an additional 85 shares during the period. Arbor Wealth Advisors LLC increased its stake 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 buying an additional 85 shares during the period. Finally, Moloney Securities Asset Management LLC increased its stake in RTX by 0.7% during the 4th quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Morgan Stanley raised their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Performance

RTX stock opened at $127.30 on Thursday. The stock has a 50-day simple moving average of $122.09 and a 200 day simple moving average of $121.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $88.95 and a 12-month high of $132.43. The stock has a market capitalization of $169.58 billion, a price-to-earnings ratio of 35.86, a P/E/G ratio of 2.11 and a beta of 0.82.

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, beating 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%. On average, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.98%. RTX’s payout ratio is presently 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the 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 completion of the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.