Ritholtz Wealth Management Buys 4,872 Shares of RTX Co. (NYSE:RTX)

Ritholtz Wealth Management lifted its stake in shares of RTX Co. (NYSE:RTX) by 35.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,463 shares of the company’s stock after acquiring an additional 4,872 shares during the quarter. Ritholtz Wealth Management’s holdings in RTX were worth $1,553,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Morgan Stanley boosted its stake in RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after purchasing an additional 3,104,282 shares during the period. Norges Bank bought a new position in shares of RTX during the 4th quarter valued at approximately $1,580,608,000. Northern Trust Corp boosted its position in shares of RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of RTX by 87,932.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after acquiring an additional 13,598,794 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of RTX by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after acquiring an additional 60,319 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group increased their target price on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Royal Bank of Canada increased their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Wells Fargo & Company upgraded RTX from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $100.00 to $120.00 in a report on Thursday, March 14th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $94.00 target price (up previously from $88.00) on shares of RTX in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.12.

RTX Stock Up 0.1 %

Shares of NYSE:RTX opened at $97.56 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $91.41 and a two-hundred day moving average of $83.52. The stock has a market cap of $129.72 billion, a P/E ratio of 43.55, a PEG ratio of 1.78 and a beta of 0.87. RTX Co. has a 52-week low of $68.56 and a 52-week high of $104.91.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the prior year, the business posted $1.27 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

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

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock valued at $3,448,188 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.