Gladstone Institutional Advisory LLC Boosts Position in RTX Co. (NYSE:RTX)

Gladstone Institutional Advisory LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,620 shares of the company’s stock after acquiring an additional 1,681 shares during the period. Gladstone Institutional Advisory LLC’s holdings in RTX were worth $3,890,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. ORG Wealth Partners LLC purchased a new position in shares of RTX during the 3rd quarter valued at about $50,000. CX Institutional raised its position in RTX by 731.6% during the third quarter. CX Institutional now owns 53,444 shares of the company’s stock valued at $6,475,000 after acquiring an additional 47,017 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in RTX by 0.4% in the third quarter. Wesbanco Bank Inc. now owns 172,796 shares of the company’s stock valued at $20,936,000 after acquiring an additional 666 shares during the period. Creative Planning boosted its position in RTX by 1.2% in the 3rd quarter. Creative Planning now owns 490,632 shares of the company’s stock worth $59,445,000 after purchasing an additional 5,967 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. grew its stake in shares of RTX by 1.2% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 14,297 shares of the company’s stock worth $1,732,000 after purchasing an additional 174 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Price Performance

RTX stock opened at $129.01 on Wednesday. The business has a 50 day simple moving average of $120.40 and a 200-day simple moving average of $120.49. RTX Co. has a 12 month low of $88.90 and a 12 month high of $132.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $171.86 billion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the transaction, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

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.