Elgethun Capital Management Raises Stock Position in RTX Co. (NYSE:RTX)

Elgethun Capital Management grew its holdings in RTX Co. (NYSE:RTX) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,633 shares of the company’s stock after purchasing an additional 296 shares during the quarter. Elgethun Capital Management’s holdings in RTX were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RTX. Fairway Wealth LLC purchased a new position in RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management boosted its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Millstone Evans Group LLC purchased a new stake in RTX during the 4th quarter worth about $39,000. Modus Advisors LLC acquired a new stake in RTX in the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was 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 directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 over the last 90 days. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RTX. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Four research 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 stock. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Performance

Shares of RTX stock opened at $117.43 on Monday. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. The stock’s 50-day moving average price is $129.05 and its 200 day moving average price is $123.42. 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 stock has a market capitalization of $156.78 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. RTX’s dividend payout ratio (DPR) is 70.99%.

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.