TCV Trust & Wealth Management Inc. Sells 298 Shares of RTX Co. (NYSE:RTX)

TCV Trust & Wealth Management Inc. cut its position in shares of RTX Co. (NYSE:RTX) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,644 shares of the company’s stock after selling 298 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in RTX were worth $1,579,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new stake in RTX during the third quarter valued at $50,000. CX Institutional raised its position in shares of RTX by 731.6% during the 3rd quarter. CX Institutional now owns 53,444 shares of the company’s stock valued at $6,475,000 after buying an additional 47,017 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of RTX by 0.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 172,796 shares of the company’s stock valued at $20,936,000 after acquiring an additional 666 shares during the last quarter. Creative Planning grew its position in RTX by 1.2% in the third quarter. Creative Planning now owns 490,632 shares of the company’s stock worth $59,445,000 after acquiring an additional 5,967 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. increased its stake in RTX by 1.2% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 14,297 shares of the company’s stock worth $1,732,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RTX. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Susquehanna boosted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Stock Up 0.6 %

Shares of NYSE RTX opened at $129.01 on Wednesday. RTX Co. has a 52-week low of $88.90 and a 52-week high of $132.43. The firm has a market capitalization of $171.86 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 2.17 and a beta of 0.82. The stock has a 50 day moving average price of $120.40 and a 200 day moving average price of $120.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. Sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 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.