Laird Norton Wetherby Wealth Management LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Laird Norton Wetherby Wealth Management LLC lessened its position in shares of RTX Co. (NYSE:RTX) by 6.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,827 shares of the company’s stock after selling 1,967 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in RTX were worth $3,452,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Lionshead Wealth Management LLC purchased a new stake in shares of RTX in the fourth quarter valued at $315,000. Investment Management Corp of Ontario boosted its position in shares of RTX by 5.2% in the fourth quarter. Investment Management Corp of Ontario now owns 103,344 shares of the company’s stock worth $11,959,000 after acquiring an additional 5,084 shares during the last quarter. Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of RTX during the 4th quarter valued at $318,000. Janus Henderson Group PLC grew its position in RTX by 19.5% during the fourth quarter. Janus Henderson Group PLC now owns 1,166,464 shares of the company’s stock valued at $134,993,000 after acquiring an additional 189,937 shares during the period. Finally, Guardian Wealth Advisors LLC NC increased its position in RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company’s stock worth $576,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $128.69 on Monday. The stock has a market capitalization of $171.92 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.11 and a beta of 0.60. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. 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 firm’s 50 day moving average is $128.26 and its 200-day moving average is $123.90.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Vertical Research upgraded RTX to a “strong-buy” rating in a report on Tuesday, January 28th. UBS Group raised their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Susquehanna decreased their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $161.06.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,946 shares of company stock valued at $9,024,856 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

RTX Company 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.