Institute for Wealth Management LLC. Has $1.32 Million Stock Holdings in RTX Co. (NYSE:RTX)

Institute for Wealth Management LLC. decreased its holdings in shares of RTX Co. (NYSE:RTX) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,705 shares of the company’s stock after selling 1,302 shares during the period. Institute for Wealth Management LLC.’s holdings in RTX were worth $1,321,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of RTX in the fourth quarter valued at about $1,580,608,000. Moneta Group Investment Advisors LLC raised its holdings in shares of RTX by 87,932.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after purchasing an additional 13,598,794 shares during the last quarter. Boston Partners purchased a new stake in shares of RTX in the third quarter valued at about $355,350,000. Morgan Stanley raised its holdings in shares of RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of RTX by 32.8% in the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at $5,252,769.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Cowen increased their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Royal Bank of Canada raised their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Barclays raised their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, UBS Group raised their price objective on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.44.

RTX Price Performance

Shares of NYSE:RTX opened at $101.57 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $135.05 billion, a PE ratio of 45.34, a P/E/G ratio of 1.83 and a beta of 0.88. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.32. The company has a 50-day moving average price of $94.55 and a two-hundred day moving average price of $86.44.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $1.27 earnings per share. Equities analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. RTX’s dividend payout ratio is presently 105.36%.

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.