Peak Financial Management Inc. Buys 142 Shares of RTX Co. (NYSE:RTX)

Peak Financial Management Inc. boosted its stake in RTX Co. (NYSE:RTX) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,250 shares of the company’s stock after purchasing an additional 142 shares during the period. Peak Financial Management Inc.’s holdings in RTX were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Norges Bank acquired a new position in RTX in the 4th quarter valued at approximately $1,580,608,000. Moneta Group Investment Advisors LLC increased its position in shares of RTX by 87,932.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock worth $1,373,951,000 after buying an additional 13,598,794 shares during the period. Boston Partners acquired a new stake in shares of RTX during the third quarter worth $355,350,000. Morgan Stanley increased its position in shares of RTX by 11.3% during the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after buying an additional 3,104,282 shares during the period. Finally, Capital World Investors increased its position in shares of RTX by 32.8% during the first quarter. Capital World Investors now owns 9,130,557 shares of the company’s stock worth $904,564,000 after buying an additional 2,256,475 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.1 %

RTX opened at $97.56 on Friday. The business’s fifty day simple moving average is $91.41 and its 200 day simple moving average is $83.52. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91. The stock has a market cap of $129.72 billion, a PE ratio of 43.55, a P/E/G ratio of 1.78 and a beta of 0.87. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same period last year, the firm earned $1.27 earnings per share. RTX’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, research analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 $1,076,176.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 $1,076,176.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock worth $3,448,188 over the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RTX. Robert W. Baird reiterated a “neutral” rating and set a $94.00 price objective (up previously from $88.00) on shares of RTX in a report on Tuesday, January 16th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. TD Cowen upped their price target on 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 upped their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Finally, Bank of America raised RTX from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.12.

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.