RTX Co. (NYSE:RTX) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management increased its position in shares of RTX Co. (NYSE:RTX) by 35.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,463 shares of the company’s stock after acquiring an additional 4,872 shares during the period. Ritholtz Wealth Management’s holdings in RTX were worth $1,553,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RTX. Norges Bank acquired a new stake in RTX in the 4th quarter valued at about $1,580,608,000. Moneta Group Investment Advisors LLC raised its position in RTX by 87,932.7% in 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 purchasing an additional 13,598,794 shares in the last quarter. Boston Partners acquired a new stake in RTX in the 3rd quarter valued at about $355,350,000. Morgan Stanley raised its position in RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock valued at $3,079,013,000 after purchasing an additional 3,104,282 shares in the last quarter. Finally, Capital World Investors raised its position in RTX by 32.8% in the 1st quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock valued at $904,564,000 after purchasing an additional 2,256,475 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $97.56 on Friday. The stock has a fifty day moving average price of $91.41 and a 200 day moving average price of $83.52. The stock has a market cap of $129.72 billion, a PE ratio of 43.55, a P/E/G ratio of 1.78 and a beta of 0.87. RTX Co. has a 1 year low of $68.56 and a 1 year high of $104.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04.

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 company had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was 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 document filed with the SEC, which is available through the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares in the company, 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 quarter. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RTX. Robert W. Baird reiterated a “neutral” rating and issued a $94.00 price objective (up previously from $88.00) on shares of RTX in a report on Tuesday, January 16th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Barclays increased their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada raised their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $95.12.

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.