Naviter Wealth LLC Acquires 5,941 Shares of RTX Co. (NYSE:RTX)

Naviter Wealth LLC grew its holdings in RTX Co. (NYSE:RTX) by 49.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,967 shares of the company’s stock after purchasing an additional 5,941 shares during the quarter. Naviter Wealth LLC’s holdings in RTX were worth $1,512,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its position in RTX by 8,351.8% during the third quarter. Exchange Traded Concepts LLC now owns 7,184 shares of the company’s stock valued at $517,000 after purchasing an additional 7,099 shares in the last quarter. FAS Wealth Partners Inc. bought a new stake in shares of RTX in the 3rd quarter valued at about $527,000. Compagnie Lombard Odier SCmA grew its position in shares of RTX by 28.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 6,000 shares of the company’s stock worth $432,000 after buying an additional 1,331 shares during the last quarter. Toews Corp ADV bought a new position in shares of RTX during the 3rd quarter worth approximately $799,000. Finally, Accurate Wealth Management LLC boosted its stake in RTX by 2.8% in the third quarter. Accurate Wealth Management LLC now owns 8,525 shares of the company’s stock valued at $630,000 after acquiring an additional 236 shares in 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 the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the 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 owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders sold 127,547 shares of company stock worth $12,553,645 over the last 90 days. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup upped their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Bank of America increased their price target on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird boosted their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Barclays increased their price objective on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.27.

RTX Trading Down 0.1 %

Shares of RTX stock opened at $102.33 on Tuesday. The company has a fifty day simple moving average of $95.80 and a 200-day simple moving average of $87.92. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The stock has a market cap of $136.05 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 1.83 and a beta of 0.88.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. On average, equities analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.31%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

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.