Apollon Wealth Management LLC Has $4.86 Million Stake in RTX Co. (NYSE:RTX)

Apollon Wealth Management LLC raised its stake in RTX Co. (NYSE:RTX) by 74.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,791 shares of the company’s stock after purchasing an additional 24,695 shares during the period. Apollon Wealth Management LLC’s holdings in RTX were worth $4,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Bear Mountain Capital Inc. bought a new stake in RTX in the fourth quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of RTX in the 3rd quarter worth about $28,000. Planned Solutions Inc. acquired a new stake in shares of RTX in the 4th quarter worth about $30,000. Financial Gravity Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

Shares of RTX stock traded up $0.51 on Monday, reaching $101.91. 3,372,626 shares of the company traded hands, compared to its average volume of 8,110,990. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The company has a 50 day moving average of $96.70 and a 200 day moving average of $88.70. The firm has a market capitalization of $135.49 billion, a PE ratio of 39.99, a PEG ratio of 1.83 and a beta of 0.84. 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 (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 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 the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $1.22 EPS. Equities analysts forecast that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a $0.63 dividend. The ex-dividend date of this dividend 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 2.47%. RTX’s dividend payout ratio (DPR) is 92.55%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the firm’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 completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,842 shares of company stock valued at $13,603,426. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RTX. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Robert W. Baird upped their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, Susquehanna increased their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.93.

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.