Laurel Wealth Advisors LLC Boosts Stake in RTX Co. (NYSE:RTX)

Laurel Wealth Advisors LLC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 7.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,803 shares of the company’s stock after purchasing an additional 1,741 shares during the period. Laurel Wealth Advisors LLC’s holdings in RTX were worth $2,171,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in RTX during the 4th quarter valued at about $690,154,000. Massachusetts Financial Services Co. MA lifted its position in RTX by 82.7% during the 4th 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 period. Boston Partners purchased a new position in RTX during the 3rd quarter valued at about $355,350,000. Van ECK Associates Corp lifted its position in RTX by 129.9% during the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after acquiring an additional 2,294,908 shares during the period. Finally, Sanders Capital LLC raised its holdings in RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after buying an additional 1,682,928 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup lifted their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America lifted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Two research 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $96.27.

RTX Stock Down 0.3 %

Shares of RTX stock traded down $0.30 on Friday, reaching $101.41. The stock had a trading volume of 4,428,318 shares, compared to its average volume of 8,154,806. The company has a 50 day moving average price of $95.57 and a 200 day moving average price of $87.51. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The stock has a market capitalization of $134.83 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.84 and a beta of 0.88.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS 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 analysts’ expectations 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 business earned $1.22 EPS. As a group, equities research analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is 92.55%.

Insider Buying and Selling at RTX

In related news, EVP Ramsaran Maharajh sold 312 shares of the business’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 in the company, valued at approximately $1,076,176.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the business’s 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 completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,785 shares of company stock worth $3,448,188. Company insiders own 0.13% of the company’s stock.

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.