Accel Wealth Management Boosts Stock Position in RTX Co. (NYSE:RTX)

Accel Wealth Management increased its stake in shares of RTX Co. (NYSE:RTX) by 65.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,174 shares of the company’s stock after buying an additional 5,984 shares during the quarter. Accel Wealth Management’s holdings in RTX were worth $2,010,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 10Elms LLP purchased a new position in RTX during the fourth quarter worth about $29,000. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC acquired a new stake in RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $137.52 on Wednesday. The business’s 50-day moving average price is $129.24 and its 200 day moving average price is $125.39. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $183.72 billion, a P/E ratio of 38.74, a P/E/G ratio of 2.11 and a beta of 0.60. RTX Co. has a 52-week low of $99.07 and a 52-week high of $138.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Cowen reissued a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Citigroup decreased their target price on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Buy” and a consensus price target of $159.82.

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.