Financial Security Advisor Inc. Invests $226,000 in RTX Co. (NYSE:RTX)

Financial Security Advisor Inc. bought a new stake in RTX Co. (NYSE:RTX) during the first quarter, HoldingsChannel reports. The firm bought 2,321 shares of the company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Research Global Investors increased its position in shares of RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after acquiring an additional 17,351,313 shares during the last quarter. Capital International Investors increased its position in shares of RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after acquiring an additional 6,932,011 shares during the last quarter. Sanders Capital LLC increased its position in shares of RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after acquiring an additional 677,520 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of RTX in the fourth quarter valued at about $690,154,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

NYSE RTX traded up $0.86 on Tuesday, hitting $100.41. 8,083,730 shares of the company’s stock were exchanged, compared to its average volume of 7,574,484. The stock has a 50-day moving average of $104.38 and a 200-day moving average of $95.78. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65. The stock has a market cap of $133.50 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 1.76 and a beta of 0.82.

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

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insider Activity

In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock worth $12,256,952. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RTX shares. Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company upped their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Finally, Robert W. Baird upped their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.33.

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.