Wealth Enhancement Advisory Services LLC Sells 4,176 Shares of RTX Co. (NYSE:RTX)

Wealth Enhancement Advisory Services LLC decreased its holdings in RTX Co. (NYSE:RTX) by 0.6% in the third quarter, Holdings Channel reports. The fund owned 659,595 shares of the company’s stock after selling 4,176 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in RTX were worth $79,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX in the second quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the 2nd quarter worth approximately $41,000. Finally, Stephens Consulting LLC boosted its holdings in RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RTX. Royal Bank of Canada lifted their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Citigroup upped their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price of $168.56.

RTX Stock Down 0.0 %

NYSE RTX traded down $0.01 during trading on Friday, hitting $125.16. The company’s stock had a trading volume of 4,716,205 shares, compared to its average volume of 6,752,277. The company has a market cap of $166.40 billion, a PE ratio of 49.08, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business’s 50 day simple moving average is $121.74 and its 200-day simple moving average is $111.28. RTX Co. has a fifty-two week low of $77.76 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. On average, equities analysts anticipate that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is presently 98.82%.

Insider Activity at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,856 shares of company stock worth $17,131,253 over the last three months. Company insiders own 0.13% of the company’s stock.

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.