Robinson Smith Wealth Advisors LLC Reduces Stake in RTX Co. (NYSE:RTX)

Robinson Smith Wealth Advisors LLC lowered its holdings in RTX Co. (NYSE:RTX) by 1.8% during the fourth quarter, HoldingsChannel reports. The fund owned 8,029 shares of the company’s stock after selling 150 shares during the period. RTX accounts for about 0.8% of Robinson Smith Wealth Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. Robinson Smith Wealth Advisors LLC’s holdings in RTX were worth $929,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. KBC Group NV grew its stake in RTX by 5.4% during the 3rd quarter. KBC Group NV now owns 105,297 shares of the company’s stock worth $12,758,000 after buying an additional 5,374 shares during the last quarter. CIBC Asset Management Inc grew its stake in RTX by 6.8% during the 3rd quarter. CIBC Asset Management Inc now owns 246,986 shares of the company’s stock worth $29,925,000 after buying an additional 15,756 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its stake in RTX by 4.5% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 7,388 shares of the company’s stock worth $895,000 after buying an additional 321 shares during the last quarter. Natixis Advisors LLC grew its stake in RTX by 1.9% during the 3rd quarter. Natixis Advisors LLC now owns 1,238,447 shares of the company’s stock worth $150,050,000 after buying an additional 23,311 shares during the last quarter. Finally, RIA Advisory Group LLC purchased a new position in RTX during the 3rd quarter worth approximately $250,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RTX shares. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Wells Fargo & Company lifted their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Susquehanna lifted their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $163.40.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was 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 directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $130.00 on Friday. The stock has a fifty day moving average price of $125.33 and a 200 day moving average price of $122.16. The stock has a market cap of $173.56 billion, a PE ratio of 36.62, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a 1 year low of $92.35 and a 1 year high of $135.36. 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 (NYSE:RTX) last issued its quarterly earnings data 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 return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 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.