PFG Investments LLC Grows Stock Position in RTX Co. (NYSE:RTX)

PFG Investments LLC increased its holdings in RTX Co. (NYSE:RTX) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,537 shares of the company’s stock after buying an additional 682 shares during the quarter. PFG Investments LLC’s holdings in RTX were worth $550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Quarry LP bought a new position in RTX in the 1st quarter worth $28,000. VitalStone Financial LLC grew its stake in shares of RTX by 136.5% during the 2nd quarter. VitalStone Financial LLC now owns 369 shares of the company’s stock valued at $36,000 after acquiring an additional 213 shares during the period. Strengthening Families & Communities LLC purchased a new stake in RTX in the 3rd quarter worth approximately $28,000. Financial Gravity Asset Management Inc. raised its stake in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares during the period. Finally, True Wealth Design LLC purchased a new position in RTX during the fourth quarter valued at approximately $47,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 1.4 %

Shares of NYSE:RTX opened at $97.45 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. RTX Co. has a 12 month low of $68.56 and a 12 month high of $104.91. The company has a 50-day moving average price of $91.16 and a 200 day moving average price of $83.42. The company has a market cap of $129.57 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 1.75 and a beta of 0.87.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. As a group, equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is currently 105.36%.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock valued at $3,448,188 over the last 90 days. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on RTX shares. Barclays upped their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company upgraded RTX from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $100.00 to $120.00 in a research note on Thursday, March 14th. Finally, TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.12.

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.