Wedbush Securities Inc. Has $4.46 Million Stake in RTX Co. (NYSE:RTX)

Wedbush Securities Inc. increased its stake in shares of RTX Co. (NYSE:RTX) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,529 shares of the company’s stock after buying an additional 4,181 shares during the quarter. Wedbush Securities Inc.’s holdings in RTX were worth $4,459,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management raised its position in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC bought a new position in RTX in the fourth quarter valued at approximately $39,000. Millstone Evans Group LLC bought a new stake in RTX during the fourth quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX in the 4th quarter valued at $40,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 9.8 %

RTX stock opened at $117.43 on Friday. The firm has a market cap of $156.78 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a 50 day moving average price of $129.05 and a two-hundred day moving average price of $123.35.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. RTX’s payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Susquehanna raised their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Bank of America upped their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

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.