St. Louis Financial Planners Asset Management LLC Invests $1.43 Million in RTX Co. (NYSE:RTX)

St. Louis Financial Planners Asset Management LLC purchased a new position in shares of RTX Co. (NYSE:RTXFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,668 shares of the company’s stock, valued at approximately $1,431,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bruce G. Allen Investments LLC raised its position in shares of RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares during the period. Thomasville National Bank raised its holdings in RTX by 4.8% in the 1st quarter. Thomasville National Bank now owns 200,172 shares of the company’s stock valued at $19,523,000 after acquiring an additional 9,234 shares during the period. Stableford Capital II LLC lifted its position in RTX by 3.1% during the first quarter. Stableford Capital II LLC now owns 10,361 shares of the company’s stock worth $1,011,000 after acquiring an additional 316 shares during the last quarter. Ellenbecker Investment Group bought a new stake in shares of RTX during the first quarter worth approximately $230,000. Finally, Welch Group LLC grew its position in shares of RTX by 3.6% in the first quarter. Welch Group LLC now owns 548,655 shares of the company’s stock valued at $53,510,000 after purchasing an additional 19,240 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Read Our Latest Research Report on RTX

Insider Activity

In other news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on 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 directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock valued at $12,256,952 over the last three months. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Up 0.8 %

RTX stock traded up $0.84 during midday trading on Friday, reaching $105.91. The stock had a trading volume of 1,956,716 shares, compared to its average volume of 7,382,620. The company has a fifty day moving average price of $104.27 and a two-hundred day moving average price of $94.65. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65. 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 company has a market capitalization of $140.81 billion, a P/E ratio of 41.40, a PEG ratio of 1.84 and a beta of 0.83.

RTX (NYSE:RTXGet Free Report) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. As a group, equities analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.38%. RTX’s payout ratio is presently 98.82%.

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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