GeoWealth Management LLC Raises Holdings in RTX Co. (NYSE:RTX)

GeoWealth Management LLC raised its position in shares of RTX Co. (NYSE:RTX) by 23.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,604 shares of the company’s stock after acquiring an additional 2,037 shares during the period. GeoWealth Management LLC’s holdings in RTX were worth $1,227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Morse Asset Management Inc acquired a new stake in shares of RTX in the third quarter worth $321,000. Tudor Financial Inc. purchased a new stake in RTX during the 3rd quarter worth $797,000. World Investment Advisors LLC raised its position in RTX by 37.1% in the third quarter. World Investment Advisors LLC now owns 40,809 shares of the company’s stock valued at $4,944,000 after purchasing an additional 11,033 shares during the period. Sfmg LLC lifted its stake in shares of RTX by 4.7% during the third quarter. Sfmg LLC now owns 73,978 shares of the company’s stock worth $8,963,000 after purchasing an additional 3,306 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of RTX by 365.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 115,237 shares of the company’s stock worth $13,962,000 after buying an additional 90,499 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.3 %

RTX stock opened at $128.89 on Friday. The firm has a market cap of $172.07 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a 1-year low of $99.07 and a 1-year high of $136.17. The firm has a fifty day moving average price of $128.59 and a two-hundred day moving average price of $123.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. RTX’s dividend payout ratio is currently 70.99%.

Insider Buying and Selling

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last three months. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Wells Fargo & Company boosted their target price on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.27.

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.