Bray Capital Advisors Sells 5,469 Shares of RTX Co. (NYSE:RTX)

Bray Capital Advisors decreased its position in RTX Co. (NYSE:RTX) by 18.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,510 shares of the company’s stock after selling 5,469 shares during the quarter. Bray Capital Advisors’ holdings in RTX were worth $2,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX in the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new stake in RTX in the fourth quarter worth $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX during the fourth quarter valued at about $40,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the third quarter valued at about $41,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

RTX Stock Performance

RTX stock opened at $125.25 on Friday. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The stock’s 50 day simple moving average is $121.38 and its two-hundred day simple moving average is $120.83. 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 stock has a market cap of $166.85 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX) last issued 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, analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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 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 2.01%. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. Susquehanna increased their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Six research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

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.