Arete Wealth Advisors LLC Grows Stock Position in RTX Co. (NYSE:RTX)

Arete Wealth Advisors LLC lifted its stake in RTX Co. (NYSE:RTX) by 69.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,764 shares of the company’s stock after acquiring an additional 3,999 shares during the quarter. Arete Wealth Advisors LLC’s holdings in RTX were worth $1,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Morse Asset Management Inc acquired a new stake in shares of RTX during the 3rd quarter worth approximately $321,000. Redwood Investment Management LLC boosted its holdings in RTX by 4.0% during the third quarter. Redwood Investment Management LLC now owns 14,519 shares of the company’s stock worth $1,748,000 after buying an additional 565 shares in the last quarter. Quarry LP grew its position in RTX by 197.9% during the third quarter. Quarry LP now owns 846 shares of the company’s stock valued at $103,000 after buying an additional 562 shares during the period. Quadrature Capital Ltd purchased a new position in RTX in the third quarter valued at $6,243,000. Finally, Stevens Capital Management LP acquired a new position in shares of RTX in the third quarter worth about $220,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RTX. Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Four 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Price Performance

RTX stock opened at $117.43 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $156.78 billion, a P/E ratio of 33.08, a PEG ratio of 2.11 and a beta of 0.58. The company has a 50-day moving average price of $129.05 and a 200 day moving average price of $123.35. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17.

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

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio 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.