Optimum Investment Advisors Sells 210 Shares of RTX Co. (NYSE:RTX)

Optimum Investment Advisors cut its position in shares of RTX Co. (NYSE:RTX) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,108 shares of the company’s stock after selling 210 shares during the period. RTX comprises 0.7% of Optimum Investment Advisors’ portfolio, making the stock its 25th biggest position. Optimum Investment Advisors’ holdings in RTX were worth $1,517,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Guardian Partners Inc. bought a new stake in shares of RTX in the 4th quarter valued at about $6,404,000. Fox Run Management L.L.C. purchased a new position in RTX during the fourth quarter valued at approximately $301,000. AXQ Capital LP raised its stake in RTX by 38.7% in the fourth quarter. AXQ Capital LP now owns 3,046 shares of the company’s stock worth $352,000 after buying an additional 850 shares in the last quarter. Umpqua Bank purchased a new stake in RTX during the fourth quarter worth $241,000. Finally, Sei Investments Co. boosted its position in RTX by 1.8% during the 4th quarter. Sei Investments Co. now owns 655,088 shares of the company’s stock valued at $75,806,000 after acquiring an additional 11,764 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

NYSE RTX opened at $132.35 on Friday. The stock’s fifty day moving average price is $127.15 and its 200 day moving average price is $122.55. RTX Co. has a 1 year low of $95.27 and a 1 year high of $135.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market cap of $176.70 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share 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%. As a group, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

Insider Transactions at RTX

In other news, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares of the company’s stock, valued at $3,771,880.44. The trade was a 39.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $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. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their target price for the company from $136.00 to $160.00 in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

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.