Axxcess Wealth Management LLC Has $5.82 Million Holdings in RTX Co. (NYSE:RTX)

Axxcess Wealth Management LLC lifted its position in RTX Co. (NYSE:RTX) by 35.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,195 shares of the company’s stock after acquiring an additional 17,992 shares during the quarter. Axxcess Wealth Management LLC’s holdings in RTX were worth $5,822,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in RTX during the fourth quarter valued at about $25,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the 4th quarter worth approximately $30,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX in the 3rd quarter worth approximately $28,000. Financial Gravity Asset Management Inc. lifted its stake in RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in RTX during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX traded down $0.49 during mid-day trading on Friday, reaching $101.40. 13,324,869 shares of the company were exchanged, compared to its average volume of 7,489,805. The company’s 50 day moving average price is $96.70 and its 200 day moving average price is $88.49. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. 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 stock has a market capitalization of $134.81 billion, a PE ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. Sell-side analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be paid a $0.63 dividend. The ex-dividend date is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a yield of 2.49%. RTX’s payout ratio is currently 92.55%.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction 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 of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Insiders sold a total of 137,842 shares of company stock worth $13,603,426 over the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RTX shares. Royal Bank of Canada upped their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. 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. Susquehanna boosted their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Finally, UBS Group raised their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.93.

RTX Company 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.