Strategic Planning Group LLC Purchases 4,391 Shares of RTX Co. (NYSE:RTX)

Strategic Planning Group LLC boosted its stake in shares of RTX Co. (NYSE:RTX) by 17.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,298 shares of the company’s stock after purchasing an additional 4,391 shares during the quarter. Strategic Planning Group LLC’s holdings in RTX were worth $2,857,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC boosted its position in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after purchasing an additional 19,779 shares during the period. TCW Group Inc. bought a new stake in shares of RTX in the fourth quarter valued at approximately $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new stake in shares of RTX in the fourth quarter worth $672,000. Mather Group LLC. grew its stake in shares of RTX by 8.5% in the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Rockline Wealth Management LLC acquired a new stake in shares of RTX in the fourth quarter worth $2,438,000. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RTX shares. Wells Fargo & Company raised their price objective on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Citigroup raised their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Bank of America raised their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. UBS Group raised their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $98.33.

RTX Price Performance

Shares of RTX stock opened at $101.10 on Tuesday. The stock has a 50-day moving average price of $104.42 and a 200 day moving average price of $95.12. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $134.41 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 1.85 and a beta of 0.83. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 EPS. Research analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. RTX’s payout ratio is currently 98.82%.

Insider Transactions at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by company insiders.

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.