Provence Wealth Management Group Purchases 190 Shares of RTX Co. (NYSE:RTX)

Provence Wealth Management Group lifted its holdings in RTX Co. (NYSE:RTX) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,966 shares of the company’s stock after buying an additional 190 shares during the quarter. Provence Wealth Management Group’s holdings in RTX were worth $334,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RTX. Bear Mountain Capital Inc. purchased a new stake in shares of RTX in the 4th quarter worth approximately $25,000. Planned Solutions Inc. purchased a new position in shares of RTX in the 4th quarter worth about $30,000. Strengthening Families & Communities LLC purchased a new stake in RTX during the 3rd quarter valued at about $28,000. Financial Gravity Asset Management Inc. increased its stake in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in RTX in the fourth quarter worth about $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX traded down $0.49 during trading hours on Friday, hitting $101.40. The company’s stock had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.89. 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 business’s 50-day moving average price is $96.70 and its 200-day moving average price is $88.49. The stock has a market cap of $134.81 billion, a price-to-earnings ratio of 39.76, a P/E/G ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 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 analysts’ expectations 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 quarter in the previous year, the business earned $1.22 EPS. Sell-side analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. RTX’s payout ratio is currently 92.55%.

Insider Activity

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,842 shares of company stock worth $13,603,426. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RTX shares. Susquehanna upped their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Citigroup lifted their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen upped 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 reissued an “overweight” rating and issued a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Finally, Robert W. Baird increased their price target 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 equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $96.93.

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.