Centric Wealth Management Buys Shares of 3,556 RTX Co. (NYSE:RTX)

Centric Wealth Management purchased a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,556 shares of the company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC raised its stake in RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after acquiring an additional 28,910 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,079 shares during the period. Rockline Wealth Management LLC purchased a new stake in RTX in the fourth quarter valued at approximately $2,438,000. AllGen Financial Advisors Inc. increased its holdings in RTX by 12.8% in the 4th quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after buying an additional 3,657 shares during the period. Finally, B&D White Capital Company LLC purchased a new position in RTX during the 3rd quarter worth approximately $14,186,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,842 shares of company stock valued at $13,603,426. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen upped their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada raised their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Finally, Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus price target of $96.93.

RTX Price Performance

RTX stock traded up $1.31 during midday trading on Tuesday, reaching $103.22. The company had a trading volume of 6,933,019 shares, compared to its average volume of 8,097,605. The firm’s fifty day simple moving average is $96.94 and its 200-day simple moving average is $88.89. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a market capitalization of $137.23 billion, a P/E ratio of 39.89, a P/E/G ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 EPS. As a group, equities analysts anticipate that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.44%. RTX’s dividend payout ratio is 92.55%.

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.