Independent Solutions Wealth Management LLC Reduces Stake in RTX Co. (NYSE:RTX)

Independent Solutions Wealth Management LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,695 shares of the company’s stock after selling 577 shares during the period. Independent Solutions Wealth Management LLC’s holdings in RTX were worth $1,469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fairway Wealth LLC purchased a new position in RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management increased its position in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Modus Advisors LLC bought a new position in RTX in the fourth quarter worth about $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the fourth quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC boosted its position in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RTX shares. Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company upped their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $136.00 to $160.00 in a research report on Wednesday. Finally, Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average target price of $166.40.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

RTX Stock Down 0.7 %

RTX stock opened at $134.37 on Friday. The stock has a market capitalization of $179.40 billion, a P/E ratio of 37.85, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1-year low of $94.08 and a 1-year high of $135.74. The business has a fifty day moving average price of $126.80 and a 200-day moving average price of $122.47.

RTX (NYSE:RTX) last issued its 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 return on equity of 12.45% and a net margin of 5.91%. Equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.88%. RTX’s dividend payout ratio is presently 70.99%.

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.