Allred Capital Management LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Allred Capital Management LLC reduced its holdings in shares of RTX Co. (NYSE:RTX) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,013 shares of the company’s stock after selling 99 shares during the period. Allred Capital Management LLC’s holdings in RTX were worth $1,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Fairway Wealth LLC bought a new stake in shares of RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Millstone Evans Group LLC bought a new position in RTX during the 4th quarter worth approximately $39,000. Modus Advisors LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter valued at approximately $40,000. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction 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 sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last quarter. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RTX shares. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Bank of America raised their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada upped their target price on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.27.

RTX Stock Performance

Shares of RTX opened at $128.89 on Friday. The firm has a market capitalization of $172.07 billion, a PE ratio of 36.31, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $128.59 and a 200 day moving average price of $123.80. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. RTX’s dividend payout ratio (DPR) is 70.99%.

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.