Kerntke Otto McGlone Wealth Management Group Has $514,000 Position in RTX Co. (NYSE:RTX)

Kerntke Otto McGlone Wealth Management Group grew its position in RTX Co. (NYSE:RTX) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,108 shares of the company’s stock after purchasing an additional 128 shares during the period. Kerntke Otto McGlone Wealth Management Group’s holdings in RTX were worth $514,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in RTX in the 4th quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new position in RTX during the 3rd quarter worth about $28,000. Planned Solutions Inc. bought a new stake in RTX during the 4th quarter worth about $30,000. Financial Gravity Asset Management Inc. increased its position in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. Citigroup raised their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. UBS Group raised their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. TD Cowen raised their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird boosted their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $96.93.

RTX Stock Down 0.5 %

Shares of NYSE:RTX traded down $0.49 during trading on Friday, hitting $101.40. 13,324,869 shares of the company’s stock traded hands, compared to its average volume of 7,489,805. The company has a 50-day moving average price of $96.70 and a 200-day moving average price of $88.49. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. 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 cap of $134.81 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84.

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

RTX Increases Dividend

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

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders sold 137,842 shares of company stock valued at $13,603,426 over the last three months. 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.