Valley National Advisers Inc. Boosts Stake in RTX Co. (NYSE:RTX)

Valley National Advisers Inc. lifted its holdings in shares of RTX Co. (NYSE:RTX) by 155.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,195 shares of the company’s stock after acquiring an additional 728 shares during the quarter. Valley National Advisers Inc.’s holdings in RTX were worth $100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Strengthening Families & Communities LLC purchased a new stake in shares of RTX during the 3rd quarter valued at about $28,000. Quarry LP bought a new position in RTX during the first quarter valued at approximately $28,000. Planned Solutions Inc. purchased a new stake in RTX in the fourth quarter worth approximately $30,000. Financial Gravity Asset Management Inc. grew its position in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the period. Finally, Legacy Financial Group LLC purchased a new stake in RTX during the 3rd quarter valued at $35,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

NYSE:RTX opened at $101.60 on Wednesday. The stock has a market cap of $135.09 billion, a PE ratio of 45.36, a P/E/G ratio of 1.86 and a beta of 0.88. 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’s 50-day simple moving average is $93.09 and its two-hundred day simple moving average is $85.03. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter last year, the company earned $1.27 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. RTX’s dividend payout ratio is 105.36%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RTX shares. UBS Group raised their price target on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Bank of America upgraded shares of 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 report on Thursday, January 25th. Two investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.76.

Insider Activity at RTX

In other RTX news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other RTX news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,785 shares of company stock valued at $3,448,188. 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.