Brown Miller Wealth Management LLC Reduces Position in RTX Co. (NYSE:RTX)

Brown Miller Wealth Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,476 shares of the company’s stock after selling 106 shares during the quarter. RTX comprises approximately 1.1% of Brown Miller Wealth Management LLC’s holdings, making the stock its 28th largest holding. Brown Miller Wealth Management LLC’s holdings in RTX were worth $2,832,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of RTX by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock valued at $1,185,832,000 after buying an additional 151,474 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of RTX by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after buying an additional 549,814 shares during the last quarter. Finally, Amundi increased its position in RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now owns 29,742 shares in the company, valued at approximately $3,771,880.44. The trade was a 39.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent analyst reports. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.

RTX Price Performance

RTX stock opened at $129.14 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $172.03 billion, a P/E ratio of 36.38, a P/E/G ratio of 2.11 and a beta of 0.78. The business’s fifty day moving average is $124.78 and its two-hundred day moving average is $122.01. RTX Co. has a 52 week low of $91.05 and a 52 week high of $135.36.

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

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.95%. RTX’s payout ratio is presently 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.