Revolve Wealth Partners LLC Invests $244,000 in RTX Co. (NYSE:RTX)

Revolve Wealth Partners LLC purchased a new position in RTX Co. (NYSE:RTX) during the first quarter, HoldingsChannel.com reports. The fund purchased 2,506 shares of the company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in shares of RTX in the fourth quarter worth approximately $25,000. Planned Solutions Inc. bought a new position in shares of RTX in the fourth quarter worth approximately $30,000. Financial Gravity Asset Management Inc. increased its position in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of RTX in the fourth quarter worth approximately $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $100.63 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $133.78 billion, a P/E ratio of 39.46, a P/E/G ratio of 1.78 and a beta of 0.83. The business has a fifty day simple moving average of $104.44 and a two-hundred day simple moving average of $95.34. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. On average, equities analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 98.82%.

Analysts Set New Price Targets

RTX has been the topic of several research analyst reports. UBS Group upped their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays increased their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Susquehanna raised their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company raised their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.33.

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.