Richard Bernstein Advisors LLC Reduces Position in RTX Co. (NYSE:RTX)

Richard Bernstein Advisors LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 27.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,761 shares of the company’s stock after selling 10,151 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in RTX were worth $3,097,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RTX. Susquehanna raised their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price target on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. UBS Group raised RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $142.00 to $147.00 in a research note on Monday. Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

RTX Price Performance

Shares of NYSE:RTX opened at $127.30 on Wednesday. RTX Co. has a 1-year low of $88.95 and a 1-year high of $132.43. 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 business has a fifty day moving average price of $121.84 and a 200-day moving average price of $121.13. The company has a market capitalization of $169.58 billion, a PE ratio of 35.86, a PEG ratio of 2.11 and a beta of 0.82.

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 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, equities analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.98%. RTX’s payout ratio is 70.99%.

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.