Iams Wealth Management LLC Raises Stake in RTX Co. (NYSE:RTX)

Iams Wealth Management LLC grew its stake in shares of RTX Co. (NYSE:RTX) by 11.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,356 shares of the company’s stock after purchasing an additional 640 shares during the quarter. Iams Wealth Management LLC’s holdings in RTX were worth $572,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in shares of RTX by 23.7% during 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 purchasing an additional 17,351,313 shares during the period. Capital International Investors lifted its position in shares of RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of RTX by 82.7% during 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 buying an additional 6,932,011 shares during the last quarter. Sanders Capital LLC lifted its position in shares of RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after buying an additional 677,520 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of RTX during the fourth quarter valued at about $690,154,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RTX. Barclays upped their price objective on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Citigroup upped their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Bank of America increased their price target on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, TD Cowen upped their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $98.33.

Insider Buying and Selling at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were 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 owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock worth $12,256,952 over the last three months. Insiders own 0.13% of the company’s stock.

RTX Trading Up 0.7 %

Shares of RTX traded up $0.71 during midday trading on Tuesday, reaching $100.26. The company had a trading volume of 1,367,640 shares, compared to its average volume of 7,519,868. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The stock has a market cap of $133.30 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The firm has a 50 day simple moving average of $104.38 and a 200-day simple moving average of $95.78. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm 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 company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.22 EPS. Research analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

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

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.