Dover Advisors LLC Sells 2,111 Shares of RTX Co. (NYSE:RTX)

Dover Advisors LLC cut its stake in RTX Co. (NYSE:RTX) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,835 shares of the company’s stock after selling 2,111 shares during the quarter. RTX comprises approximately 1.7% of Dover Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Dover Advisors LLC’s holdings in RTX were worth $2,990,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new stake in RTX during the third quarter worth about $29,000. Modus Advisors LLC purchased a new stake in shares of RTX in the 4th quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX during the 4th quarter worth approximately $40,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the 3rd quarter valued at approximately $41,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $123.23 on Monday. The business has a 50-day simple moving average of $121.49 and a 200-day simple moving average of $120.98. 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 one year low of $88.90 and a one year high of $132.43. The company has a market cap of $164.16 billion, a PE ratio of 34.71, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Analysts Set New Price Targets

RTX has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Susquehanna increased their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company increased their price objective on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

Insiders Place Their Bets

In other RTX 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 directly owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

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.