Lake Street Private Wealth LLC Sells 2,011 Shares of RTX Co. (NYSE:RTX)

Lake Street Private Wealth LLC lessened its holdings in RTX Co. (NYSE:RTX) by 46.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,342 shares of the company’s stock after selling 2,011 shares during the period. Lake Street Private Wealth LLC’s holdings in RTX were worth $284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elgethun Capital Management boosted its stake in shares of RTX by 3.8% during the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock worth $233,000 after acquiring an additional 85 shares during the last quarter. Alpha Omega Wealth Management LLC raised its holdings in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares during the period. Liberty Capital Management Inc. lifted its position in RTX by 0.3% during the third quarter. Liberty Capital Management Inc. now owns 34,120 shares of the company’s stock valued at $4,134,000 after purchasing an additional 90 shares in the last quarter. Lazari Capital Management Inc. grew its holdings in RTX by 1.6% during the second quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock valued at $603,000 after purchasing an additional 95 shares during the period. Finally, Fermata Advisors LLC increased its position in RTX by 4.3% in the third quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock worth $280,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $127.21 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12 month low of $76.96 and a 12 month high of $128.70. The stock has a 50 day moving average of $121.27 and a 200 day moving average of $110.91. The firm has a market cap of $169.22 billion, a PE ratio of 36.35, a PEG ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. On average, research analysts expect that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is 72.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RTX. JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley upped their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and raised their price objective for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. The Goldman Sachs Group upped their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $168.56.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, 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 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. In the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Company 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.