SeaCrest Wealth Management LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

by · The Cerbat Gem

SeaCrest Wealth Management LLC trimmed its holdings in RTX Co. (NYSE:RTX – Free Report) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,596 shares of the company’s stock after selling 364 shares during the period. SeaCrest Wealth Management LLC’s holdings in RTX were worth $1,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX in the second quarter worth about $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the second quarter valued at about $41,000. Finally, Alaska Permanent Fund Corp acquired a new stake in RTX during the first quarter valued at approximately $42,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock traded up $0.22 during midday trading on Wednesday, reaching $125.25. 169,248 shares of the company’s stock traded hands, compared to its average volume of 6,815,487. The company has a 50-day simple moving average of $120.26 and a two-hundred day simple moving average of $109.96. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 1-year low of $72.48 and a 1-year high of $126.82. The company has a market cap of $166.52 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. On average, analysts anticipate that RTX Co. will post 5.46 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 98.82%.

Analysts Set New Price Targets

Several research firms recently issued reports on RTX. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Melius Research raised their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Wells Fargo & Company lowered their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $162.50.

View Our Latest Research Report on RTX

Insider Activity at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by insiders.

RTX Profile

(Free Report)

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.

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