Wealth Advisors of Tampa Bay LLC Buys 300 Shares of RTX Co. (NYSE:RTX)

Wealth Advisors of Tampa Bay LLC raised its stake in RTX Co. (NYSE:RTX) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,469 shares of the company’s stock after acquiring an additional 300 shares during the period. RTX makes up 1.5% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its 25th biggest position. Wealth Advisors of Tampa Bay LLC’s holdings in RTX were worth $3,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of RTX. Norges Bank purchased a new stake in RTX during the 4th quarter valued at about $1,745,644,000. Amundi raised its holdings in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after acquiring an additional 2,854,928 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after acquiring an additional 2,094,834 shares in the last quarter. Capital Wealth Planning LLC purchased a new stake in RTX during the 4th quarter valued at $216,340,000. Finally, Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on RTX shares. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Performance

Shares of NYSE RTX opened at $130.14 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1 year low of $97.90 and a 1 year high of $136.17. The firm has a fifty day moving average price of $129.21 and a 200-day moving average price of $123.36. The stock has a market cap of $173.75 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.94%. RTX’s dividend payout ratio (DPR) is 70.99%.

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.