Wealthcare Advisory Partners LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Wealthcare Advisory Partners LLC boosted its position in shares of RTX Co. (NYSE:RTX) by 12.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 12,997 shares of the company’s stock after purchasing an additional 1,388 shares during the period. Wealthcare Advisory Partners LLC’s holdings in RTX were worth $1,268,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in RTX in the 4th quarter worth approximately $25,000. Planned Solutions Inc. purchased a new position in RTX in the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. grew its stake 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 buying an additional 345 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of RTX in the 4th quarter worth approximately $38,000. Finally, Fairman Group LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RTX shares. Citigroup boosted their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday. Barclays boosted their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Bank of America upped their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird upped their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.33.

Insider Activity

In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, 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. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 over the last quarter. Insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX opened at $100.63 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The company has a market capitalization of $133.78 billion, a P/E ratio of 39.46, a P/E/G ratio of 1.78 and a beta of 0.83. The firm’s 50 day simple moving average is $104.44 and its two-hundred day simple moving average is $95.34.

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

RTX Announces Dividend

The business also recently disclosed 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. This represents a $2.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is currently 98.82%.

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.