Baker Tilly Wealth Management LLC Has $1.10 Million Holdings in RTX Co. (NYSE:RTX)

Baker Tilly Wealth Management LLC trimmed its holdings in RTX Co. (NYSE:RTX) by 28.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,052 shares of the company’s stock after selling 3,587 shares during the period. Baker Tilly Wealth Management LLC’s holdings in RTX were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Hibernia Wealth Partners LLC bought a new stake in RTX during the third quarter worth about $423,000. First American Bank lifted its holdings in shares of RTX by 1.9% during the 3rd quarter. First American Bank now owns 45,884 shares of the company’s stock worth $5,559,000 after acquiring an additional 867 shares during the period. State of Alaska Department of Revenue boosted its position in shares of RTX by 6.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 154,549 shares of the company’s stock worth $18,725,000 after acquiring an additional 9,970 shares in the last quarter. Carret Asset Management LLC increased its stake in RTX by 7.5% in the third quarter. Carret Asset Management LLC now owns 20,485 shares of the company’s stock valued at $2,482,000 after acquiring an additional 1,431 shares during the last quarter. Finally, Kavar Capital Partners Group LLC raised its position in RTX by 4.4% during the third quarter. Kavar Capital Partners Group LLC now owns 2,219 shares of the company’s stock valued at $269,000 after purchasing an additional 93 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

RTX Stock Performance

NYSE RTX opened at $125.10 on Monday. The company has a market capitalization of $166.51 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.17 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 0.62. RTX Co. has a twelve month low of $77.76 and a twelve month high of $128.70. The stock has a fifty day simple moving average of $121.74 and a 200 day simple moving average of $111.42.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts expect that RTX Co. will post 5.57 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research note on Tuesday, July 30th. Melius Research boosted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Morgan Stanley raised their price target on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price of $175.27.

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.