Scissortail Wealth Management LLC Invests $1.29 Million in RTX Co. (NYSE:RTX)

Scissortail Wealth Management LLC bought a new position in RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,336 shares of the company’s stock, valued at approximately $1,291,000.

Several other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in RTX during the fourth quarter valued at approximately $1,580,608,000. Moneta Group Investment Advisors LLC grew its position in RTX by 87,932.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after purchasing an additional 13,598,794 shares in the last quarter. Boston Partners purchased a new position in RTX during the third quarter valued at approximately $355,350,000. Morgan Stanley grew its position in RTX by 11.3% during the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares in the last quarter. Finally, Capital World Investors grew its position in RTX by 32.8% during the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. TD Cowen boosted their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Royal Bank of Canada lifted their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Finally, TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Hold” and an average target price of $94.44.

RTX Stock Performance

RTX stock traded up $0.81 on Tuesday, hitting $100.83. The company’s stock had a trading volume of 7,086,164 shares, compared to its average volume of 8,335,845. The firm has a market cap of $134.07 billion, a P/E ratio of 45.01, a price-to-earnings-growth ratio of 1.82 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $93.96 and a 200-day moving average price of $86.03. RTX Co. has a one year low of $68.56 and a one year high of $104.91.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock valued at $3,448,188 in the last 90 days. 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.