RTX Co. (NYSE:RTX) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC lifted its position in RTX Co. (NYSE:RTX) by 513.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,046 shares of the company’s stock after acquiring an additional 35,196 shares during the period. Modern Wealth Management LLC’s holdings in RTX were worth $5,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its holdings in RTX by 6.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 63,507 shares of the company’s stock worth $7,846,000 after buying an additional 3,818 shares during the period. Larson Financial Group LLC boosted its holdings in shares of RTX by 124.7% in the 3rd quarter. Larson Financial Group LLC now owns 9,364 shares of the company’s stock valued at $1,134,000 after acquiring an additional 5,196 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of RTX by 9.3% in the third quarter. Daiwa Securities Group Inc. now owns 162,308 shares of the company’s stock worth $19,665,000 after acquiring an additional 13,800 shares during the period. Fisher Asset Management LLC raised its holdings in shares of RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its position in RTX by 4.2% during the third quarter. Douglass Winthrop Advisors LLC now owns 6,277 shares of the company’s stock valued at $761,000 after purchasing an additional 255 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Susquehanna upped their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $166.40.

Insiders Place Their Bets

In other news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

NYSE RTX opened at $134.76 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1-year low of $95.27 and a 1-year high of $135.74. The company has a market cap of $179.92 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The stock’s 50 day simple moving average is $127.48 and its 200-day simple moving average is $122.66.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.87%. RTX’s payout ratio is 70.99%.

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.