Romano Brothers AND Company Increases Stock Holdings in RTX Co. (NYSE:RTX)

Romano Brothers AND Company lifted its holdings in shares of RTX Co. (NYSE:RTX) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,135 shares of the company’s stock after purchasing an additional 1,660 shares during the quarter. RTX comprises about 1.0% of Romano Brothers AND Company’s holdings, making the stock its 22nd biggest holding. Romano Brothers AND Company’s holdings in RTX were worth $7,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Briaud Financial Planning Inc grew its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in RTX in the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX during the second quarter worth about $41,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of RTX during the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 1.3 %

NYSE RTX opened at $127.21 on Thursday. The firm’s fifty day moving average is $121.46 and its two-hundred day moving average is $111.02. RTX Co. has a one year low of $76.96 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market cap of $169.22 billion, a PE ratio of 36.35, a P/E/G ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that RTX Co. will post 5.5 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 1.98%. RTX’s dividend payout ratio is currently 72.00%.

Insiders Place Their Bets

In other news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RTX has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Susquehanna boosted their target price on RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $168.56.

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.