Meridian Wealth Management LLC Reduces Its RTX Holdings

Meridian Wealth Management LLC has decreased its stake in RTX Co. (NYSE:RTX) by 8.3% during the fourth quarter, as disclosed in its most recent filing with the SEC. After selling 5,283 shares, the firm now holds a total of 58,722 shares in the company. The value of Meridian Wealth Management LLC's shareholdings in RTX stood at approximately $6,795,000 according to the latest SEC report.

Institutional Investor Activity

Numerous other institutional investors have also traded shares of RTX, contributing to the stock's dynamic activity. For instance, Assenagon Asset Management S.A. significantly boosted its holdings by 545.6% in the fourth quarter, acquiring 2,094,834 shares to reach a total of 2,478,784 shares valued at about $286,845,000. Capital Wealth Planning LLC has also made headlines by initiating a new position in RTX, valued at around $216,340,000 in this quarter.

Additionally, Proficio Capital Partners LLC saw an impressive increase in its stake, raising it by an astounding 19,052.5% to own 1,043,239 shares worth about $120,724,000 after buying 1,037,792 shares. Jennison Associates LLC also increased its position by 190.7%, owning 1,514,015 shares valued at approximately $175,202,000 after acquiring an additional 993,273 shares. Meanwhile, Fisher Asset Management LLC raised its position by 4.8% during the prior quarter, now holding 18,471,471 shares valued at around $2,238,004,000. Overall, institutional investors collectively own 86.50% of RTX’s outstanding shares.

Research Analysts and Ratings

Research analysts have been active in providing updated ratings for RTX. Argus upgraded the stock from a "hold" rating to a "buy" rating on February 11th. Meanwhile, StockNews.com adjusted its rating, moving from "buy" to "hold" on February 14th. Vertical Research also raised its recommendation to a "strong buy" on January 28th. Furthermore, Deutsche Bank upgraded RTX from a "hold" to a "buy" rating, increasing the price target from $131.00 to $140.00 in a note released on January 2nd. Finally, Wells Fargo & Company raised its price objective from $151.00 to $156.00, classifying the stock as "overweight" on January 30th. The consensus rating for RTX is currently a "Moderate Buy" based on evaluations from five analysts with a hold rating, ten with a buy rating, and two recommending strong buy, along with an average price target of $163.40.

Insider Transactions at RTX

In recent insider trading news, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock on February 25th for an average price of $126.82, totaling approximately $2,464,239. After this transaction, he holds 29,742 shares valued at around $3,771,880. Additionally, insider Troy D. Brunk sold 2,872 shares on February 24th at an average price of $125.95, amounting to about $361,728. Following this sale, Brunk's holdings decreased to 5,272 shares with a value of about $664,008. Over the last 90 days, insiders have sold a total of 36,334 shares for $4,639,194, with company insiders owning 0.13% of RTX shares.

RTX Stock Performance Analysis

The stock price of RTX opened at $133.02 on Monday, with a 52-week low of $88.95 and a high of $133.09. Currently, RTX boasts a market capitalization of $177.19 billion, a P/E ratio of 37.47, and a price-to-earnings growth ratio of 2.11. The average price over the last fifty days is approximately $122.72, while the two-hundred-day average stands at $121.41. The firm also exhibits a quick ratio of 0.74, a current ratio of 0.99, and a debt-to-equity ratio of 0.63.

Dividend Announcement from RTX

The company has recently announced a quarterly dividend of $0.63 per share, scheduled to be paid on March 20th. Stockholders on record as of February 21st will receive this dividend, translating to an annualized dividend of $2.52 and a yield of 1.89%. The ex-dividend date is set for February 21st, and RTX's dividend payout ratio is currently marked at 70.99%.

Overview of RTX Corporation

RTX Corporation, known commonly as RTX, is an aerospace and defense company that provides various systems and services for commercial, military, and government customers both in the United States and internationally. The company operates through three primary segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace segment offers a wide range of aerospace and defense products along with aftermarket service solutions aimed at civil and military aircraft manufacturers, commercial airlines, and various defense and space operations.

Concluding Thoughts

In summary, Meridian Wealth Management's decision to reduce its holdings in RTX is a key development, reflecting broader trends among institutional investors. With ongoing changes in analyst ratings and insider activities, RTX continues to be a point of interest in the market.

RTX, Investment, Dividends