Schrum Private Wealth Management LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Schrum Private Wealth Management LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 42.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,184 shares of the company's stock after selling 3,900 shares during the quarter. Schrum Private Wealth Management LLC's holdings in RTX were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the 3rd quarter worth $29,000. Modus Advisors LLC purchased a new stake in RTX during the 4th quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA purchased a new stake in RTX during the 4th quarter valued at about $40,000. Western Pacific Wealth Management LP purchased a new stake in RTX during the 3rd quarter valued at about $41,000. Finally, Iron Horse Wealth Management LLC grew its stake in RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company's stock valued at $43,000 after purchasing an additional 279 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

NYSE RTX traded up $0.35 during trading hours on Friday, reaching $128.63. The company's stock had a trading volume of 6,417,602 shares, compared to its average volume of 5,617,576. The firm has a market capitalization of $171.35 billion, a price-to-earnings ratio of 36.23, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a 1-year low of $89.44 and a 1-year high of $135.36. 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 company's 50-day moving average is $124.02 and its two-hundred day moving average is $121.79.

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RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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, equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 dividend yield of 1.96%. RTX's payout ratio is currently 70.99%.

Analysts Set New Price Targets

Several research firms have weighed in on RTX. UBS Group upgraded RTX from a "neutral" rating to a "buy" rating and boosted their price target for the company from $142.00 to $147.00 in a research note on Monday, February 24th. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Vertical Research raised RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their price objective on RTX from $151.00 to $156.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $163.40.

Insider Buying and Selling at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company's stock, valued at $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 79,831 shares of company stock valued at $10,309,302 over the last quarter. 0.13% of the stock is currently owned by insiders.

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.