Pinnacle Wealth Planning Services Inc. Cuts Stock Position in RTX Co. (NYSE:RTX)

Pinnacle Wealth Planning Services Inc. cut its position in RTX Co. (NYSE:RTX - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,385 shares of the company's stock after selling 2,221 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in RTX were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. MidAtlantic Capital Management Inc. purchased a new position in RTX during the third quarter valued at $29,000. Modus Advisors LLC purchased a new position in RTX during the fourth quarter valued at $39,000. Comprehensive Financial Planning Inc. PA purchased a new position in RTX during the fourth quarter valued at $40,000. Western Pacific Wealth Management LP purchased a new position in RTX during the third quarter valued at $41,000. Finally, Iron Horse Wealth Management LLC grew its stake in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company's stock valued at $43,000 after acquiring an additional 279 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 0.3 %

Shares of RTX stock traded up $0.35 during trading on Friday, hitting $128.63. The stock had a trading volume of 6,417,602 shares, compared to its average volume of 5,618,016. The firm's fifty day simple moving average is $123.78 and its 200-day simple moving average is $121.70. The stock has a market cap of $171.35 billion, a PE ratio of 36.23, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12 month low of $89.44 and a 12 month high of $135.36.

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RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business 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 of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. RTX's payout ratio is 70.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RTX shares. StockNews.com cut shares of RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and increased their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Wells Fargo & Company increased their price objective on shares of RTX from $151.00 to $156.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Bank of America increased their price objective on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, RTX presently has an average rating of "Moderate Buy" and an average target price of $163.40.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares of the company's stock, valued at approximately $3,771,880.44. This trade represents a 39.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

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.