Investment Advisory Group LLC Boosts Stake in RTX Co. (NYSE:RTX)

Investment Advisory Group LLC grew its position in shares of RTX Co. (NYSE:RTX) by 24.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,890 shares of the company’s stock after acquiring an additional 759 shares during the period. Investment Advisory Group LLC’s holdings in RTX were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RTX. Morgan Stanley boosted its position in shares of RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after purchasing an additional 3,104,282 shares in the last quarter. Norges Bank bought a new position in shares of RTX during the 4th quarter valued at $1,580,608,000. Northern Trust Corp lifted its holdings in shares of RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after buying an additional 256,215 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of 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 worth $1,373,951,000 after purchasing an additional 13,598,794 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of RTX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock worth $3,448,188 over the last three months. Company insiders own 0.13% of the company’s stock.

RTX Trading Up 1.0 %

Shares of NYSE:RTX traded up $1.01 during trading on Tuesday, reaching $101.03. 2,580,542 shares of the company were exchanged, compared to its average volume of 8,271,897. The firm has a market capitalization of $134.33 billion, a PE ratio of 44.65, a P/E/G ratio of 1.82 and a beta of 0.88. The business’s fifty day simple moving average is $93.79 and its 200-day simple moving average is $85.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.91.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the company posted $1.27 earnings per share. RTX’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. RTX’s payout ratio is currently 105.36%.

Analysts Set New Price Targets

Several research firms have recently commented on RTX. Royal Bank of Canada upped their price objective on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Robert W. Baird increased their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Barclays increased their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.44.

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.