Consolidated Planning Corp Takes Position in RTX Co. (NYSE:RTX)

Consolidated Planning Corp acquired a new position in RTX Co. (NYSE:RTX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,699 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bear Mountain Capital Inc. bought a new stake in RTX in the fourth quarter worth approximately $25,000. Planned Solutions Inc. bought a new stake in shares of RTX in the 4th quarter worth $30,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX in the 3rd quarter worth $28,000. Financial Gravity Asset Management Inc. grew its stake in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of RTX in the 4th quarter worth $38,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RTX

In other news, COO Christopher T. Calio sold 367 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred 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 directly owns 56,707 shares in the company, valued at $5,252,769.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. UBS Group boosted their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Robert W. Baird boosted their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $96.27.

RTX Stock Performance

NYSE RTX traded down $0.30 during trading on Friday, hitting $101.41. 4,428,318 shares of the company’s stock traded hands, compared to its average volume of 8,154,806. The stock has a market capitalization of $134.83 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 1.84 and a beta of 0.88. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. The business has a 50 day moving average of $95.57 and a 200-day moving average of $87.61.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is 92.55%.

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.