RTX Co. (NYSE:RTX) Stock Position Cut by Welch Group LLC

Welch Group LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 542,103 shares of the company’s stock after selling 1,472 shares during the period. RTX comprises approximately 2.8% of Welch Group LLC’s holdings, making the stock its 10th largest position. Welch Group LLC’s holdings in RTX were worth $62,461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Avestar Capital LLC lifted its stake in shares of RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after buying an additional 85 shares during the period. Arbor Wealth Advisors LLC lifted its position in RTX by 3.7% during the 4th quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after acquiring an additional 85 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its stake in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after purchasing an additional 86 shares during the last quarter. Blackston Financial Advisory Group LLC raised its stake in shares of RTX by 3.7% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after purchasing an additional 86 shares during the last quarter. Finally, Traveka Wealth LLC lifted its holdings in shares of RTX by 3.2% during the fourth quarter. Traveka Wealth LLC now owns 2,789 shares of the company’s stock worth $323,000 after purchasing an additional 86 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

NYSE:RTX opened at $130.03 on Tuesday. The company has a fifty day moving average of $119.37 and a two-hundred day moving average of $119.59. RTX Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43. The stock has a market capitalization of $173.07 billion, a PE ratio of 36.63, a P/E/G ratio of 2.17 and a beta of 0.82. 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 (NYSE:RTX) last issued its quarterly earnings results 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 net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts forecast that RTX Co. will post 6.12 earnings per share for the current fiscal year.

RTX Announces Dividend

The company 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. This represents a $2.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley raised their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

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.