Cassaday & Co Wealth Management LLC Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Cassaday & Co Wealth Management LLC decreased its holdings in RTX Co. (NYSE:RTX) by 29.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,262 shares of the company’s stock after selling 2,968 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in RTX were worth $840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new stake in RTX in the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new stake in shares of RTX during the fourth quarter worth about $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the 4th quarter valued at about $40,000. Western Pacific Wealth Management LP acquired a new position in shares of RTX in the 3rd quarter valued at about $41,000. Finally, Iron Horse Wealth Management LLC boosted its position in shares of 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 buying an additional 279 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $125.25 on Friday. The company has a fifty day moving average of $121.38 and a two-hundred day moving average of $120.83. The stock has a market capitalization of $166.85 billion, a PE ratio of 35.28, a P/E/G ratio of 2.12 and a beta of 0.82. 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 Co. has a fifty-two week low of $88.90 and a fifty-two week high of $132.43.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. RTX’s dividend payout ratio is presently 70.99%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade 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 is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the subject of several research reports. 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 RTX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Wells Fargo & Company raised their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.07.

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.