Global Assets Advisory LLC Purchases New Shares in RTX Co. (NYSE:RTX)

Global Assets Advisory LLC acquired a new position in shares of RTX Co. (NYSE:RTX) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 77,133 shares of the company’s stock, valued at approximately $7,523,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in RTX in the 4th quarter worth about $25,000. Planned Solutions Inc. acquired a new stake in shares of RTX in the fourth quarter worth approximately $30,000. Financial Gravity Asset Management Inc. increased its position in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares in the last quarter. Valley National Advisers Inc. raised its stake in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in RTX in the 4th quarter valued at $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX 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 transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 in the last 90 days. 0.13% of the stock is owned by insiders.

RTX Stock Down 3.5 %

NYSE:RTX traded down $3.65 during midday trading on Monday, hitting $101.96. 13,702,426 shares of the company were exchanged, compared to its average volume of 7,529,910. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The company has a market capitalization of $135.56 billion, a PE ratio of 41.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $104.38 and a 200 day simple moving average of $94.97.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The business 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%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. As a group, equities analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.47%. RTX’s payout ratio is 98.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Citigroup lifted their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Susquehanna upped their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Two investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.