FourThought Financial Partners LLC Increases Stock Holdings in RTX Co. (NYSE:RTX)

FourThought Financial Partners LLC raised its holdings in RTX Co. (NYSE:RTX) by 29.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,932 shares of the company’s stock after acquiring an additional 1,807 shares during the quarter. FourThought Financial Partners LLC’s holdings in RTX were worth $667,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RTX. Vestmark Advisory Solutions Inc. boosted its stake in RTX by 2.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 9,714 shares of the company’s stock worth $817,000 after purchasing an additional 232 shares in the last quarter. Todd Asset Management LLC raised its position in RTX by 203.3% during the fourth quarter. Todd Asset Management LLC now owns 3,785 shares of the company’s stock valued at $318,000 after acquiring an additional 2,537 shares in the last quarter. AJOVista LLC purchased a new position in shares of RTX during the 4th quarter valued at approximately $100,000. Provence Wealth Management Group lifted its stake in shares of RTX by 5.0% in the 4th quarter. Provence Wealth Management Group now owns 3,966 shares of the company’s stock valued at $334,000 after purchasing an additional 190 shares during the period. Finally, Legacy Financial Advisors Inc. grew its position in RTX by 38.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 4,717 shares of the company’s stock valued at $397,000 after buying an additional 1,315 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Bank of America raised their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Susquehanna boosted their price target on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird upped their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.93.

RTX Price Performance

RTX traded down $0.49 during trading on Friday, reaching $101.40. The company’s stock had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. 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 firm has a fifty day simple moving average of $96.70 and a two-hundred day simple moving average of $88.60. The company has a market cap of $134.81 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings data 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. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. 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 dividend on an annualized basis and a yield of 2.49%. RTX’s payout ratio is 92.55%.

Insider Buying and Selling at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 137,842 shares of company stock worth $13,603,426 in the last ninety days. 0.13% of the stock is owned by insiders.

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.