4,576 Shares in RTX Co. (NYSE:RTX) Purchased by Financial Network Wealth Advisors LLC

Financial Network Wealth Advisors LLC bought a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 4,576 shares of the company’s stock, valued at approximately $385,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors grew its position in RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after buying an additional 17,351,313 shares in the last quarter. Capital International Investors lifted its stake in RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after purchasing an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after purchasing an additional 6,932,011 shares during the last quarter. Northern Trust Corp lifted its stake in RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after purchasing an additional 256,215 shares during the last quarter. Finally, Sanders Capital LLC lifted its stake in RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value 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 $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred 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 $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock worth $12,256,952 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Performance

RTX stock traded down $1.77 during trading on Thursday, hitting $105.00. 6,612,517 shares of the company traded hands, compared to its average volume of 7,510,753. The stock’s 50-day simple moving average is $103.95 and its 200 day simple moving average is $93.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market cap of $139.60 billion, a PE ratio of 41.18, a P/E/G ratio of 1.88 and a beta of 0.83. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. On average, equities analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Analyst Ratings Changes

RTX has been the subject of a number of recent research reports. UBS Group boosted their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company boosted their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Citigroup boosted their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird boosted their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. 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 issued a buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Hold” and a consensus target price of $98.33.

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.