Wealthspire Advisors LLC Increases Position in RTX Co. (NYSE:RTX)

Wealthspire Advisors LLC raised its position in shares of RTX Co. (NYSE:RTX) by 8.0% during the fourth quarter, HoldingsChannel reports. The firm owned 19,182 shares of the company’s stock after purchasing an additional 1,427 shares during the period. Wealthspire Advisors LLC’s holdings in RTX were worth $1,614,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Bear Mountain Capital Inc. purchased a new position in shares of RTX in the fourth quarter worth $25,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX in the third quarter worth about $28,000. Planned Solutions Inc. purchased a new position in RTX during the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. lifted its holdings in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the period. Finally, Valley National Advisers Inc. grew its position in shares of RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 1.7 %

Shares of NYSE:RTX traded up $1.79 on Thursday, hitting $105.73. 7,210,085 shares of the company traded hands, compared to its average volume of 8,055,303. The company has a market cap of $140.57 billion, a PE ratio of 40.73, a PEG ratio of 1.83 and a beta of 0.84. The stock has a 50 day simple moving average of $97.48 and a 200-day simple moving average of $89.21. RTX Co. has a 52 week low of $68.56 and a 52 week high of $105.76. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same period last year, the business earned $1.22 EPS. RTX’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts expect that RTX Co. will post 5.4 earnings per share for the current 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 paid 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 2.38%. This is a boost from RTX’s previous quarterly dividend of $0.59. RTX’s payout ratio is currently 92.55%.

Insider Activity

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 135,618 shares of company stock valued at $13,397,978 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on RTX shares. UBS Group raised their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Robert W. Baird increased their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.93.

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.