Soltis Investment Advisors LLC Acquires 197 Shares of RTX Co. (NYSE:RTX)

Soltis Investment Advisors LLC lifted its stake in RTX Co. (NYSE:RTX) by 1.5% during the first quarter, HoldingsChannel.com reports. The firm owned 13,413 shares of the company’s stock after purchasing an additional 197 shares during the quarter. Soltis Investment Advisors LLC’s holdings in RTX were worth $1,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RTX. Motco grew its position in shares of RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares in the last quarter. Gold Investment Management Ltd. boosted its holdings in RTX by 3.5% during the 1st quarter. Gold Investment Management Ltd. now owns 3,045 shares of the company’s stock valued at $297,000 after acquiring an additional 103 shares during the period. Insight Inv LLC increased its stake in RTX by 0.6% during the first quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock worth $1,687,000 after purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares during the period. Finally, Jacobsen Capital Management increased its stake in RTX by 3.0% during the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 198,213 shares of company stock worth $22,963,593 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays lifted their price target 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. Citigroup boosted their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Melius Research upped their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada upped their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $153.47.

RTX Stock Performance

Shares of RTX stock traded down $0.30 during midday trading on Friday, hitting $116.44. The company had a trading volume of 4,578,404 shares, compared to its average volume of 6,574,825. RTX Co. has a 52-week low of $68.56 and a 52-week high of $118.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The company’s 50 day simple moving average is $105.54 and its 200 day simple moving average is $99.28. The stock has a market cap of $154.81 billion, a price-to-earnings ratio of 45.66, a PEG ratio of 2.06 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. Research analysts anticipate that RTX Co. will post 5.44 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. RTX’s dividend payout ratio is currently 98.82%.

About RTX

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.