SageView Advisory Group LLC Takes Position in RTX Co. (NYSE:RTX)

SageView Advisory Group LLC purchased a new stake in RTX Co. (NYSE:RTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,386 shares of the company’s stock, valued at approximately $1,485,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. purchased a new stake in RTX in the 4th quarter valued at about $25,000. Planned Solutions Inc. purchased a new stake in RTX in the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. raised its holdings in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares during the period. Valley National Advisers Inc. raised its holdings in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares during the period. Finally, Milestone Investment Advisors LLC purchased a new stake in RTX in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX traded up $0.86 during trading on Friday, reaching $106.27. The company’s stock had a trading volume of 3,431,308 shares, compared to its average volume of 6,166,759. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $141.29 billion, a price-to-earnings ratio of 41.67, a P/E/G ratio of 1.85 and a beta of 0.84. RTX Co. has a twelve month low of $68.56 and a twelve month high of $107.82. The business’s fifty day moving average price is $101.04 and its 200-day moving average price is $91.29.

RTX (NYSE:RTX) last issued its earnings results 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. The business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. As a group, analysts anticipate that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.37%. This is an increase from RTX’s previous quarterly dividend of $0.59. RTX’s payout ratio is currently 98.82%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays boosted their price objective on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Wells Fargo & Company boosted their price target on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. 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 research note on Wednesday, April 24th. 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 report on Monday, April 8th. Finally, Bank of America boosted their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.33.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were 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 legal filing with the SEC, which can be accessed through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The shares were 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 in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,042 shares of company stock valued at $12,266,459. Corporate 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.