Consolidated Planning Corp Takes Position in RTX Co. (NYSE:RTX)

Consolidated Planning Corp bought a new stake in shares of RTX Co. (NYSE:RTX) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,699 shares of the company’s stock, valued at approximately $227,000.

Several other large investors have also recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC grew its position in RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after acquiring an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC purchased a new stake in shares of RTX in the 4th quarter worth $2,438,000. B&D White Capital Company LLC purchased a new stake in shares of RTX in the 3rd quarter worth $14,186,000. PDS Planning Inc purchased a new stake in shares of RTX in the 4th quarter worth $356,000. Finally, Cullen Investment Group LTD. purchased a new stake in shares of RTX in the 4th quarter worth $843,000. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred 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 transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on RTX shares. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday. TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. 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 note on Monday, April 8th. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Finally, Citigroup upped their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two investment 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 data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $96.27.

RTX Stock Performance

RTX stock traded down $0.30 during midday trading on Friday, hitting $101.41. 4,428,318 shares of the company were exchanged, compared to its average volume of 8,154,806. The firm has a market capitalization of $134.83 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. The business has a fifty day simple moving average of $95.57 and a two-hundred day simple moving average of $87.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89.

RTX (NYSE:RTX) last issued its quarterly earnings results 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 company had revenue of $19.30 billion for 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%. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. On average, sell-side analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

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

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.