Mcrae Capital Management Inc. Reduces Stock Position in RTX Co. (NYSE:RTX)

Mcrae Capital Management Inc. cut its stake in RTX Co. (NYSE:RTX) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,358 shares of the company’s stock after selling 92 shares during the quarter. Mcrae Capital Management Inc.’s holdings in RTX were worth $273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. purchased a new position in RTX during the 3rd quarter valued at about $29,000. Western Pacific Wealth Management LP purchased a new position in RTX during the third quarter valued at approximately $41,000. Modus Advisors LLC bought a new stake in RTX during the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX in the 4th quarter worth approximately $40,000. Finally, Iron Horse Wealth Management LLC boosted its stake in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RTX shares. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Bank of America raised their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, UBS Group raised their price target on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on 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 in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $125.95 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $120.70 and its 200 day simple moving average is $120.57. The stock has a market cap of $167.78 billion, a P/E ratio of 35.48, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate 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, research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 yield of 2.00%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

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.