AllGen Financial Advisors Inc. Raises Position in RTX Co. (NYSE:RTX)

AllGen Financial Advisors Inc. raised its holdings in shares of RTX Co. (NYSE:RTX) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,325 shares of the company’s stock after buying an additional 3,657 shares during the period. RTX comprises approximately 1.4% of AllGen Financial Advisors Inc.’s portfolio, making the stock its 18th largest position. AllGen Financial Advisors Inc.’s holdings in RTX were worth $2,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the fourth quarter worth about $25,000. Planned Solutions Inc. purchased a new stake in RTX in the 4th quarter worth approximately $30,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX in the 3rd quarter worth approximately $28,000. Financial Gravity Asset Management Inc. increased its stake in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of RTX during the fourth quarter valued at approximately $38,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Barclays increased their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Susquehanna increased their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Finally, TD Cowen lifted their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, RTX has an average rating of “Hold” and a consensus target price of $96.93.

RTX Stock Down 0.5 %

Shares of NYSE RTX traded down $0.49 during midday trading on Friday, hitting $101.40. The stock had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. The business’s 50 day moving average is $96.70 and its 200-day moving average is $88.60. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a market cap of $134.81 billion, a P/E ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. As a group, analysts predict that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be given a $0.63 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.49%. RTX’s payout ratio is 92.55%.

Insider Buying and Selling at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,842 shares of company stock worth $13,603,426. Company insiders own 0.13% of the company’s stock.

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.