New Century Financial Group LLC Makes New Investment in RTX Co. (NYSE:RTX)

New Century Financial Group LLC purchased a new stake in RTX Co. (NYSE:RTX) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,742 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RTX. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in RTX during the second quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at $32,000. Fairfield Financial Advisors LTD purchased a new position in shares of RTX in the second quarter valued at $41,000. Finally, Stephens Consulting LLC boosted its position in shares of RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $125.90 on Tuesday. RTX Co. has a fifty-two week low of $72.52 and a fifty-two week high of $127.00. The firm’s 50 day moving average is $120.91 and its two-hundred day moving average is $110.55. The company has a market cap of $167.38 billion, a P/E ratio of 49.22, a P/E/G ratio of 2.24 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. Analysts expect that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Activity at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, Royal Bank of Canada increased their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus target price of $162.50.

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.