Element Wealth LLC raised its holdings in shares of RTX Co. (NYSE:RTX – Free Report) by 6.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,823 shares of the company’s stock after acquiring an additional 243 shares during the period. Element Wealth LLC’s holdings in RTX were worth $463,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Briaud Financial Planning Inc raised its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD purchased a new stake in RTX during the 2nd quarter valued at $41,000. Finally, Stephens Consulting LLC raised its position in RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company decreased their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $168.56.
Insider Transactions at RTX
In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s 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 owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,856 shares of company stock worth $17,131,253 over the last quarter. 0.13% of the stock is currently owned by insiders.
RTX Trading Down 1.6 %
Shares of RTX stock opened at $125.18 on Friday. The stock has a market cap of $166.52 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. RTX Co. has a 12-month low of $77.76 and a 12-month high of $128.70. The company has a 50-day moving average of $121.59 and a two-hundred day moving average of $111.12.
RTX (NYSE:RTX – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. RTX’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. On average, research analysts anticipate that RTX Co. will post 5.5 EPS for the current fiscal year.
RTX Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 72.00%.
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.
Read More
- Five stocks we like better than RTX
- Why Invest in 5G? How to Invest in 5G Stocks
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- Investing in Travel Stocks Benefits
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
- Find and Profitably Trade Stocks at 52-Week Lows
- The Downtrend in UPS Stock Isn’t Over Yet
Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Co. (NYSE:RTX – Free Report).
Receive News & Ratings for RTX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RTX and related companies with MarketBeat.com's FREE daily email newsletter.