Prio Wealth Limited Partnership Trims Stock Holdings in RTX Co. (NYSE:RTX)

Prio Wealth Limited Partnership decreased its holdings in RTX Co. (NYSE:RTX) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 418,644 shares of the company’s stock after selling 8,394 shares during the period. RTX accounts for about 1.5% of Prio Wealth Limited Partnership’s holdings, making the stock its 18th biggest position. Prio Wealth Limited Partnership’s holdings in RTX were worth $50,723,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RTX. Briaud Financial Planning Inc lifted its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the second quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX during the second quarter valued at approximately $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in RTX during the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent research reports. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Citigroup boosted their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Susquehanna lifted their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $162.50.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the sale, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last quarter. 0.13% of the stock is currently owned by insiders.

RTX Stock Down 0.5 %

Shares of NYSE:RTX traded down $0.57 during midday trading on Monday, reaching $125.35. The company’s stock had a trading volume of 853,230 shares, compared to its average volume of 6,767,137. The firm has a 50 day moving average of $120.91 and a 200-day moving average of $110.46. The firm has a market capitalization of $166.75 billion, a P/E ratio of 72.53, a PEG ratio of 2.24 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 12-month low of $72.52 and a 12-month high of $127.00.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. On average, research analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 145.67%.

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.