Cassaday & Co Wealth Management LLC Cuts Position in RTX Co. (NYSE:RTX)

Cassaday & Co Wealth Management LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 29.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,262 shares of the company’s stock after selling 2,968 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in RTX were worth $840,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in RTX by 545.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the period. International Assets Investment Management LLC raised its stake in RTX by 11,235.6% during the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the period. Jennison Associates LLC boosted its stake in RTX by 190.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after purchasing an additional 993,273 shares during the period. Fisher Asset Management LLC lifted its position in RTX by 4.8% in the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock worth $118,309,000 after acquiring an additional 702,699 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the 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 transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RTX. Barclays lifted their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company increased their price objective on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Susquehanna lifted their target price 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. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Down 0.1 %

Shares of NYSE RTX opened at $125.25 on Friday. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The company has a 50-day moving average price of $121.38 and a 200-day moving average price of $120.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $166.85 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.12 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

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

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.