Archford Capital Strategies LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

Archford Capital Strategies LLC boosted its position in shares of RTX Co. (NYSE:RTXFree Report) by 85.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,687 shares of the company’s stock after acquiring an additional 5,838 shares during the quarter. Archford Capital Strategies LLC’s holdings in RTX were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Morgan Stanley boosted its stake in RTX by 11.3% in the 4th quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after purchasing an additional 3,104,282 shares during the period. Norges Bank bought a new stake in RTX in the 4th quarter worth approximately $1,580,608,000. Northern Trust Corp raised its holdings in shares of RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after acquiring an additional 256,215 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of RTX by 87,932.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after acquiring an additional 13,598,794 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Robert W. Baird restated a “neutral” rating and set a $94.00 target price (up from $88.00) on shares of RTX in a research report on Tuesday, January 16th. Royal Bank of Canada increased their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. TD Cowen lifted their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wells Fargo & Company raised shares of RTX from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $100.00 to $120.00 in a research note on Thursday, March 14th. Finally, UBS Group upped their price target on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $95.12.

Check Out Our Latest Analysis on RTX

Insider Activity

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,785 shares of company stock worth $3,448,188. Insiders own 0.11% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX opened at $95.54 on Friday. The firm has a 50 day moving average of $90.52 and a 200 day moving average of $83.17. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $127.03 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91.

RTX (NYSE:RTXGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share. On average, sell-side analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is presently 105.36%.

About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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