Pacific Capital Wealth Advisors Inc. Takes $170,000 Position in RTX Co. (NYSE:RTX)

Pacific Capital Wealth Advisors Inc. bought a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,019 shares of the company’s stock, valued at approximately $170,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Northern Trust Corp lifted its holdings in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after buying an additional 256,215 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares during the last quarter. Sanders Capital LLC lifted its position in shares of RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after buying an additional 1,682,928 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after buying an additional 1,914,184 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in RTX by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after buying an additional 593,305 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.8 %

Shares of NYSE RTX traded up $0.78 during trading hours on Wednesday, reaching $104.01. The stock had a trading volume of 5,177,642 shares, compared to its average volume of 8,064,801. RTX Co. has a 52-week low of $68.56 and a 52-week high of $104.09. The firm has a market cap of $138.28 billion, a price-to-earnings ratio of 40.48, a P/E/G ratio of 1.83 and a beta of 0.84. The business’s fifty day moving average price is $97.20 and its two-hundred day moving average price is $89.11. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion for 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 business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 EPS. Analysts expect that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.42%. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s payout ratio is currently 92.55%.

Insider Transactions at RTX

In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,618 shares of company stock valued at $13,397,978. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of recent research reports. UBS Group raised their target price on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Susquehanna boosted their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Robert W. Baird boosted their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Barclays lifted their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of “Hold” and an average price target of $96.93.

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.