Drive Wealth Management LLC Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Drive Wealth Management LLC lifted its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,072 shares of the company’s stock after buying an additional 383 shares during the quarter. Drive Wealth Management LLC’s holdings in RTX were worth $511,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Berkshire Bank boosted its stake in shares of RTX by 12.8% during the fourth quarter. Berkshire Bank now owns 8,571 shares of the company’s stock valued at $721,000 after purchasing an additional 970 shares during the period. Pinnacle Financial Partners Inc increased its stake in shares of RTX by 6.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 25,488 shares of the company’s stock valued at $2,145,000 after purchasing an additional 1,603 shares in the last quarter. Monte Financial Group LLC grew its position in RTX by 2.8% during the 4th quarter. Monte Financial Group LLC now owns 69,653 shares of the company’s stock valued at $5,861,000 after purchasing an additional 1,912 shares during the last quarter. SNS Financial Group LLC purchased a new position in shares of RTX in the fourth quarter worth $202,000. Finally, Sigma Investment Counselors Inc. boosted its holdings in shares of RTX by 1.4% during the 4th quarter. Sigma Investment Counselors Inc. now owns 30,728 shares of the company’s stock valued at $2,585,000 after acquiring an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday. Barclays boosted their price objective on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $78.00 to $100.00 in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.12.

Read Our Latest Analysis on RTX

RTX Stock Up 0.8 %

Shares of RTX traded up $0.76 during trading hours on Tuesday, hitting $98.52. 3,724,534 shares of the company were exchanged, compared to its average volume of 8,071,185. The firm’s 50 day moving average is $91.90 and its 200-day moving average is $83.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91. The company has a market cap of $131.00 billion, a PE ratio of 43.64, a PEG ratio of 1.78 and a beta of 0.88.

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

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 312 shares of the business’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 completion of the transaction, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by insiders.

RTX Company Profile

(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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