CapWealth Advisors LLC Raises Stock Holdings in RTX Co. (NYSE:RTX)

CapWealth Advisors LLC boosted its holdings in shares of RTX Co. (NYSE:RTX) by 34.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,373 shares of the company’s stock after purchasing an additional 72,095 shares during the quarter. RTX makes up 2.9% of CapWealth Advisors LLC’s holdings, making the stock its 13th largest position. CapWealth Advisors LLC’s holdings in RTX were worth $23,843,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new position in shares of RTX during the fourth quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new position in shares of RTX during the third quarter valued at approximately $28,000. Quarry LP acquired a new position in shares of RTX during the first quarter valued at approximately $28,000. Planned Solutions Inc. acquired a new position in shares of RTX during the fourth quarter valued at approximately $30,000. Finally, Financial Gravity Asset Management Inc. raised its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock worth $3,448,188 over the last ninety days. Company insiders own 0.13% of the company’s stock.

RTX Trading Up 0.6 %

RTX stock traded up $0.64 during mid-day trading on Thursday, hitting $101.39. The company’s stock had a trading volume of 1,855,386 shares, compared to its average volume of 8,209,067. The firm has a market capitalization of $134.81 billion, a PE ratio of 44.98, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. RTX Co. has a 1 year low of $68.56 and a 1 year high of $104.91. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The stock’s fifty day moving average is $94.13 and its two-hundred day moving average is $86.13.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the business posted $1.27 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. RTX’s dividend payout ratio is currently 105.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Robert W. Baird increased their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Barclays increased their price target on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.44.

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.