Axxcess Wealth Management LLC Increases Holdings in RTX Co. (NYSE:RTX)

Axxcess Wealth Management LLC grew its holdings in shares of RTX Co. (NYSE:RTX) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 56,813 shares of the company’s stock after acquiring an additional 1,681 shares during the quarter. Axxcess Wealth Management LLC’s holdings in RTX were worth $6,574,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RTX. MidAtlantic Capital Management Inc. purchased a new stake in shares of RTX during the 3rd quarter valued at about $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management raised its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in RTX during the 4th quarter valued at about $40,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

NYSE RTX opened at $131.86 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm’s 50 day moving average price is $125.69 and its 200-day moving average price is $122.23. RTX Co. has a 52-week low of $92.35 and a 52-week high of $135.36. The company has a market cap of $176.04 billion, a PE ratio of 37.14, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. Sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. RTX’s payout ratio is 70.99%.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last 90 days. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RTX shares. Wells Fargo & Company upped their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Bank of America upped 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. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $163.40.

RTX 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.