RTX Co. (NYSE:RTX) Shares Acquired by Provence Wealth Management Group

Provence Wealth Management Group grew its holdings in shares of RTX Co. (NYSE:RTX) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,966 shares of the company’s stock after purchasing an additional 190 shares during the quarter. Provence Wealth Management Group’s holdings in RTX were worth $334,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the 4th quarter valued at $25,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX in the 3rd quarter worth about $28,000. Planned Solutions Inc. acquired a new position in shares of RTX in the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. grew its holdings in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the period. Finally, Valley National Advisers Inc. increased its position in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RTX shares. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Royal Bank of Canada increased their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Robert W. Baird boosted their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup increased their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, TD Cowen boosted their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $96.93.

RTX Stock Down 0.5 %

RTX stock traded down $0.49 during mid-day trading on Friday, hitting $101.40. 13,324,869 shares of the company were exchanged, compared to its average volume of 7,489,805. The firm has a fifty day simple moving average of $96.70 and a 200 day simple moving average of $88.49. The company has a market capitalization of $134.81 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the company earned $1.22 earnings per share. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a yield of 2.49%. RTX’s dividend payout ratio (DPR) is 92.55%.

Insider Buying and Selling at RTX

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders sold a total of 137,842 shares of company stock worth $13,603,426 over the last 90 days. Insiders own 0.13% of the company’s stock.

RTX 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.