RTX Co. (NYSE:RTX) Shares Purchased by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 8.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,024 shares of the company’s stock after acquiring an additional 559 shares during the period. Strait & Sound Wealth Management LLC’s holdings in RTX were worth $813,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. 10Elms LLP purchased a new stake in RTX during the 4th quarter worth approximately $29,000. Fairway Wealth LLC purchased a new stake in RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management increased its stake in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new stake in RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX during the 4th quarter worth approximately $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on RTX shares. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their target price on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $159.82.

RTX Stock Down 0.7%

NYSE:RTX opened at $134.00 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $129.14 and its two-hundred day moving average is $124.63. RTX Co. has a 52 week low of $99.07 and a 52 week high of $138.82. The stock has a market capitalization of $179.02 billion, a price-to-earnings ratio of 37.75, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Research analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,946 shares of company stock worth $9,024,856. Corporate insiders own 0.15% 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.