Peak Financial Management Inc. Increases Position in RTX Co. (NYSE:RTX)

Peak Financial Management Inc. increased its stake in RTX Co. (NYSE:RTX) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,250 shares of the company’s stock after purchasing an additional 142 shares during the quarter. Peak Financial Management Inc.’s holdings in RTX were worth $526,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RTX. Strengthening Families & Communities LLC purchased a new position in RTX during the 3rd quarter valued at about $28,000. Quarry LP purchased a new stake in shares of RTX during the first quarter worth about $28,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the fourth quarter worth about $30,000. Financial Gravity Asset Management Inc. grew its holdings 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 buying an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RTX shares. Barclays raised their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Wells Fargo & Company raised shares of RTX from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $100.00 to $120.00 in a research report on Thursday, March 14th. Finally, TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of “Hold” and an average price target of $95.12.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was 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 $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the firm’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 sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by company insiders.

RTX Price Performance

NYSE RTX opened at $97.56 on Friday. The stock’s 50-day moving average price is $91.41 and its two-hundred day moving average price is $83.52. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The company has a market cap of $129.72 billion, a PE ratio of 43.55, a PEG ratio of 1.78 and a beta of 0.87. RTX Co. has a 1 year low of $68.56 and a 1 year high of $104.91.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the prior year, the company earned $1.27 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. RTX’s dividend payout ratio is 105.36%.

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.