RTX Co. (NYSE:RTX) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 513.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 42,046 shares of the company’s stock after purchasing an additional 35,196 shares during the period. Modern Wealth Management LLC’s holdings in RTX were worth $5,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC boosted its position 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 worth $3,290,622,000 after buying an additional 508,344 shares during the period. Fisher Asset Management LLC grew its stake in shares of RTX by 3.1% in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of RTX by 1.5% in the 4th 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 period. Finally, Bank of New York Mellon Corp lifted its stake in RTX by 5.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock worth $1,134,851,000 after acquiring an additional 549,814 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX opened at $134.76 on Tuesday. The company’s 50 day simple moving average is $127.48 and its 200-day simple moving average is $122.66. The firm has a market cap of $179.92 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a 12-month low of $95.27 and a 12-month high of $135.74. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) 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%. As a group, equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective 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 boosted their price target on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Vertical Research raised RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.40.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX 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 directly owns 81,508 shares in the company, 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 ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is owned by company insiders.

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.