Clifford Swan Investment Counsel LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Clifford Swan Investment Counsel LLC cut its stake in RTX Co. (NYSE:RTX) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,195 shares of the company’s stock after selling 705 shares during the period. RTX makes up approximately 0.9% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 29th largest holding. Clifford Swan Investment Counsel LLC’s holdings in RTX were worth $25,365,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of RTX during the 3rd quarter worth approximately $29,000. Western Pacific Wealth Management LP acquired a new position in shares of RTX during the 3rd quarter worth approximately $41,000. Modus Advisors LLC acquired a new position in shares of RTX during the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the 4th quarter worth approximately $40,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 1.9 %

Shares of NYSE RTX opened at $133.02 on Friday. The firm has a fifty day moving average of $122.72 and a 200-day moving average of $121.38. 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 52-week low of $88.95 and a 52-week high of $133.09. The stock has a market capitalization of $177.19 billion, a PE ratio of 37.47, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, analysts anticipate that RTX Co. will post 6.11 EPS for the current 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 is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.89%. RTX’s dividend payout ratio (DPR) is 70.99%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RTX shares. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. boosted their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and boosted their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s 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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,334 shares of company stock valued at $4,639,194. Company insiders own 0.13% of the company’s stock.

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.