Pinnacle Wealth Management Advisory Group LLC Buys 4,859 Shares of RTX Co. (NYSE:RTX)

Pinnacle Wealth Management Advisory Group LLC raised its stake in RTX Co. (NYSE:RTX) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,143 shares of the company’s stock after purchasing an additional 4,859 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in RTX were worth $3,462,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new stake in RTX in the 4th quarter valued at about $25,000. Strengthening Families & Communities LLC acquired a new position in shares of RTX during the third quarter worth approximately $28,000. Planned Solutions Inc. bought a new position in shares of RTX in the 4th quarter worth $30,000. Financial Gravity Asset Management Inc. grew its position in RTX by 352.0% in 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 during the period. Finally, Valley National Advisers Inc. increased its stake in RTX by 37.4% during 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 in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX traded up $1.37 during midday trading on Thursday, reaching $105.31. 3,219,471 shares of the company traded hands, compared to its average volume of 8,009,308. RTX Co. has a 12 month low of $68.56 and a 12 month high of $105.60. The firm’s fifty day moving average price is $97.48 and its two-hundred day moving average price is $89.21. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $140.01 billion, a price-to-earnings ratio of 40.73, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last announced 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 firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 earnings per share. On average, equities analysts expect that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a dividend of $0.63 per share. This is a positive change from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s payout ratio is 92.55%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Robert W. Baird lifted their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, UBS Group increased their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RTX has a consensus rating of “Hold” and an average price target of $96.93.

Insider Buying and Selling

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 approximately $614,711.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,618 shares of company stock worth $13,397,978. Corporate insiders own 0.13% of the company’s stock.

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.