High Note Wealth LLC Has $1.11 Million Stock Position in RTX Co. (NYSE:RTX)

High Note Wealth LLC raised its stake in RTX Co. (NYSE:RTX) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,155 shares of the company’s stock after buying an additional 768 shares during the period. High Note Wealth LLC’s holdings in RTX were worth $1,107,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Highland Capital Management LLC raised its stake in RTX by 0.7% during the fourth quarter. Highland Capital Management LLC now owns 120,386 shares of the company’s stock worth $10,129,000 after buying an additional 815 shares during the last quarter. Monarch Capital Management Inc. raised its stake in RTX by 1.5% during the fourth quarter. Monarch Capital Management Inc. now owns 17,125 shares of the company’s stock worth $1,441,000 after buying an additional 249 shares during the last quarter. PFG Investments LLC raised its stake in RTX by 11.6% during the fourth quarter. PFG Investments LLC now owns 6,537 shares of the company’s stock worth $550,000 after buying an additional 682 shares during the last quarter. Bar Harbor Wealth Management raised its stake in RTX by 3.4% during the fourth quarter. Bar Harbor Wealth Management now owns 22,291 shares of the company’s stock worth $1,876,000 after buying an additional 727 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC bought a new stake in RTX in the fourth quarter valued at $222,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RTX shares. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company raised shares of RTX from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $100.00 to $120.00 in a research note on Thursday, March 14th. Royal Bank of Canada lifted their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Finally, Barclays boosted their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, RTX presently has a consensus rating of “Hold” and an average price target of $95.12.

RTX Stock Performance

NYSE RTX opened at $97.45 on Thursday. The company’s 50 day moving average is $91.16 and its 200-day moving average is $83.42. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.91. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm has a market cap of $129.57 billion, a P/E ratio of 43.50, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of the 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 transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the 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 completion of the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. Company insiders own 0.13% of the company’s stock.

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.