Continuum Advisory LLC Purchases 149 Shares of RTX Co. (NYSE:RTX)

Continuum Advisory LLC lifted its position in RTX Co. (NYSE:RTX) by 8.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,847 shares of the company’s stock after acquiring an additional 149 shares during the period. Continuum Advisory LLC’s holdings in RTX were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CX Institutional raised its position in shares of RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares in the last quarter. National Pension Service raised its position in shares of RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after acquiring an additional 375,781 shares in the last quarter. Deutsche Bank AG raised its position in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after acquiring an additional 936,953 shares in the last quarter. Archer Investment Corp raised its position in shares of RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after acquiring an additional 4,151 shares in the last quarter. Finally, Optas LLC grew its stake in shares of RTX by 114.5% in the 4th quarter. Optas LLC now owns 7,062 shares of the company’s stock worth $817,000 after buying an additional 3,770 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In related 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 transaction, the vice president now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock valued at $9,024,856 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America upped their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. UBS Group upped their price target on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $159.82.

RTX Stock Performance

RTX stock opened at $134.00 on Friday. The stock has a market capitalization of $179.02 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a 12-month low of $99.07 and a 12-month high of $138.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $129.14 and its 200 day simple moving average is $124.63.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.03%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio is presently 79.77%.

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.