Evoke Wealth LLC Increases Position in RTX Co. (NYSE:RTX)

Evoke Wealth LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,094 shares of the company’s stock after buying an additional 140 shares during the quarter. Evoke Wealth LLC’s holdings in RTX were worth $1,631,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after buying an additional 508,344 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of RTX by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock valued at $1,185,832,000 after buying an additional 151,474 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in RTX by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after purchasing an additional 549,814 shares during the last quarter. Finally, Amundi boosted its holdings in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Argus raised shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Stock Up 0.4 %

RTX opened at $132.57 on Wednesday. RTX Co. has a twelve month low of $94.03 and a twelve month high of $135.36. 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 company has a 50-day moving average price of $126.04 and a 200 day moving average price of $122.30. The company has a market cap of $176.99 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

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

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. RTX’s payout ratio is 70.99%.

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 dated 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 completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.13% of the company’s stock.

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.