Mattern Wealth Management LLC Takes $240,000 Position in RTX Co. (NYSE:RTX)

Mattern Wealth Management LLC acquired a new position in RTX Co. (NYSE:RTX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,979 shares of the company’s stock, valued at approximately $240,000.

A number of other institutional investors also recently made changes to their positions in the stock. DeDora Capital Inc. lifted its holdings in shares of RTX by 0.6% in the third quarter. DeDora Capital Inc. now owns 23,019 shares of the company’s stock valued at $2,789,000 after buying an additional 148 shares during the period. Foundations Investment Advisors LLC grew its holdings in RTX by 220.8% during the third quarter. Foundations Investment Advisors LLC now owns 57,059 shares of the company’s stock worth $6,913,000 after acquiring an additional 39,271 shares during the period. Ledyard National Bank raised its position in RTX by 1.7% in the third quarter. Ledyard National Bank now owns 16,197 shares of the company’s stock worth $1,962,000 after acquiring an additional 278 shares in the last quarter. Waterway Wealth Management LLC acquired a new stake in RTX in the 3rd quarter valued at about $212,000. Finally, Raleigh Capital Management Inc. boosted its position in shares of RTX by 52.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,004 shares of the company’s stock valued at $122,000 after purchasing an additional 345 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. TD Cowen raised RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and upped their price objective for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada boosted their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $162.50.

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on 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 transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last three months. 0.13% of the stock is owned by corporate insiders.

RTX Stock Performance

RTX stock traded down $0.77 during midday trading on Tuesday, hitting $125.13. 2,568,372 shares of the company traded hands, compared to its average volume of 6,765,738. RTX Co. has a twelve month low of $72.52 and a twelve month high of $128.66. The stock has a market capitalization of $166.36 billion, a price-to-earnings ratio of 49.04, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business has a 50 day simple moving average of $121.09 and a 200-day simple moving average of $110.74.

RTX (NYSE:RTX) last issued its quarterly earnings results 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 the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. As a group, equities research analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is presently 98.82%.

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.