Resonant Capital Advisors LLC Acquires 156 Shares of RTX Co. (NYSE:RTX)

Resonant Capital Advisors LLC grew its holdings in RTX Co. (NYSE:RTX) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,023 shares of the company’s stock after buying an additional 156 shares during the quarter. Resonant Capital Advisors LLC’s holdings in RTX were worth $1,093,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX during the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD bought a new position in RTX in the 2nd quarter valued at $41,000. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of RTX in the 1st quarter valued at $42,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RTX. Wells Fargo & Company lowered their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Citigroup increased their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. The Goldman Sachs Group lifted their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Hold” and an average target price of $162.50.

RTX Price Performance

Shares of RTX opened at $125.92 on Friday. The stock has a 50 day simple moving average of $120.91 and a 200 day simple moving average of $110.46. RTX Co. has a 52-week low of $72.48 and a 52-week high of $127.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $167.41 billion, a PE ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the prior year, the company earned $1.29 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is 98.82%.

Insider Activity

In related news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last three months. Corporate insiders own 0.13% of the company’s stock.

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.