Petros Family Wealth LLC Buys New Stake in RTX Co. (NYSE:RTX)

Petros Family Wealth LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,155 shares of the company’s stock, valued at approximately $828,000.

A number of other institutional investors also recently added to or reduced their stakes in RTX. Coign Capital Advisors LLC acquired a new stake in RTX in the 4th quarter valued at $832,000. Heritage Trust Co acquired a new stake in shares of RTX in the 4th quarter valued at $1,437,000. Family Office Research LLC bought a new stake in shares of RTX in the 4th quarter worth about $2,355,000. Argent Trust Co increased its position in shares of RTX by 1.2% during the 4th quarter. Argent Trust Co now owns 87,052 shares of the company’s stock worth $10,074,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in RTX by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 585,038 shares of the company’s stock valued at $67,701,000 after purchasing an additional 3,670 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday, March 24th. Susquehanna boosted their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Morgan Stanley increased their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $164.73.

RTX Stock Performance

Shares of RTX stock opened at $128.24 on Friday. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $171.21 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.11 and a beta of 0.58. The firm has a fifty day moving average of $128.56 and a two-hundred day moving average of $123.59.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred 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 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 three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Company insiders own 0.15% 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.