Element Wealth LLC Acquires Shares of 3,006 RTX Co. (NYSE:RTX)

Element Wealth LLC purchased a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,006 shares of the company’s stock, valued at approximately $253,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Boston Partners bought a new position in RTX during the third quarter valued at about $355,350,000. Massachusetts Financial Services Co. MA increased its holdings in RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after buying an additional 1,914,184 shares during the last quarter. Van ECK Associates Corp increased its holdings in RTX by 8,331.0% during the third quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock worth $127,120,000 after buying an additional 1,745,344 shares during the last quarter. Sanders Capital LLC increased its holdings in RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after buying an additional 1,682,928 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in RTX by 12,753.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after buying an additional 1,389,143 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling at RTX

In other news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of RTX 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 owns 11,676 shares in the company, valued at approximately $1,076,176.92. 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 three months. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RTX. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Royal Bank of Canada lifted their target price on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Finally, UBS Group lifted their target price on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $93.40.

RTX Price Performance

RTX stock traded down $0.18 during mid-day trading on Tuesday, hitting $101.38. 8,565,545 shares of the company traded hands, compared to its average volume of 8,264,415. RTX Co. has a one year low of $68.56 and a one year high of $103.89. The stock has a market cap of $134.80 billion, a price-to-earnings ratio of 45.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The stock has a fifty day moving average price of $94.76 and a 200-day moving average price of $86.89.

RTX (NYSE:RTX) last announced its 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 business had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same period in the previous year, the business posted $1.27 earnings per share. RTX’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

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.