Broadway Wealth Solutions Inc. Invests $1.21 Million in RTX Co. (NYSE:RTX)

Broadway Wealth Solutions Inc. purchased a new position in RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 10,439 shares of the company’s stock, valued at approximately $1,208,000. RTX accounts for 0.9% of Broadway Wealth Solutions Inc.’s holdings, making the stock its 16th largest position.

Other hedge funds also recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in RTX in the 4th quarter worth $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Millstone Evans Group LLC bought a new position in RTX during the fourth quarter valued at about $39,000. Modus Advisors LLC acquired a new position in RTX in the 4th quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter worth approximately $40,000. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling at RTX

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RTX shares. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX Stock Performance

Shares of RTX stock opened at $133.43 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $128.38 and a 200 day simple moving average of $122.94. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17. The firm has a market cap of $178.14 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

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.