Alta Capital Management LLC Has $417,000 Stock Position in RTX Co. (NYSE:RTX)

Alta Capital Management LLC lowered its holdings in RTX Co. (NYSE:RTX) by 29.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,606 shares of the company’s stock after selling 1,541 shares during the quarter. Alta Capital Management LLC’s holdings in RTX were worth $417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX in the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter worth approximately $40,000. Western Pacific Wealth Management LP bought a new stake in shares of RTX in the 3rd quarter worth approximately $41,000. Finally, Iron Horse Wealth Management LLC lifted its position 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 worth $43,000 after acquiring an additional 279 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Morgan Stanley raised their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Trading Up 0.5 %

Shares of RTX opened at $133.68 on Tuesday. The stock has a fifty day moving average price of $123.06 and a two-hundred day moving average price of $121.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 52-week low of $89.14 and a 52-week high of $135.36. The company has a market cap of $178.08 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. Company 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.