RTX Co. (NYSE:RTX) Stock Position Increased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC raised its position in RTX Co. (NYSE:RTX) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,143 shares of the company’s stock after purchasing an additional 4,859 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in RTX were worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in RTX during the 4th quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of RTX in the third quarter valued at $28,000. Planned Solutions Inc. bought a new position in RTX during the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. grew its holdings in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares during the period. Finally, Valley National Advisers Inc. raised its position in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Citigroup lifted their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays raised their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. 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. According to data from MarketBeat.com, RTX has an average rating of “Hold” and an average price target of $96.93.

RTX Stock Up 1.3 %

Shares of NYSE:RTX traded up $1.37 on Thursday, reaching $105.31. The company had a trading volume of 3,219,471 shares, compared to its average volume of 8,009,308. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $140.01 billion, a P/E ratio of 40.73, a P/E/G ratio of 1.83 and a beta of 0.84. The stock has a 50-day moving average price of $97.48 and a 200 day moving average price of $89.21. RTX Co. has a twelve month low of $68.56 and a twelve month high of $105.60.

RTX (NYSE:RTX) last announced its 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 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 analysts’ expectations of $18.44 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be given a dividend of $0.63 per share. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.39%. RTX’s payout ratio is currently 92.55%.

Insider Activity

In related news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,618 shares of company stock valued at $13,397,978. 0.13% of the stock is owned by insiders.

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.