Navis Wealth Advisors LLC Takes Position in RTX Co. (NYSE:RTX)

Navis Wealth Advisors LLC acquired a new stake in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,556 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also added to or reduced their stakes in RTX. Boston Partners purchased a new stake in RTX in the 3rd quarter worth $355,350,000. Massachusetts Financial Services Co. MA boosted its stake in RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after buying an additional 1,914,184 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of RTX by 8,331.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock worth $127,120,000 after acquiring an additional 1,745,344 shares during the last quarter. Sanders Capital LLC increased its position in RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after buying an additional 1,389,143 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.3 %

RTX stock traded down $0.30 during midday trading on Friday, reaching $101.41. 4,428,318 shares of the company’s stock traded hands, compared to its average volume of 8,154,806. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The business has a 50-day moving average price of $95.57 and a two-hundred day moving average price of $87.61. The company has a market capitalization of $134.83 billion, a P/E ratio of 39.77, a PEG ratio of 1.84 and a beta of 0.88.

RTX (NYSE:RTX) last posted its 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 business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the previous year, the business posted $1.22 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. RTX’s payout ratio is currently 92.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday. Susquehanna raised their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Finally, Royal Bank of Canada lifted their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. 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, the company currently has a consensus rating of “Hold” and a consensus price target of $96.27.

Insider Buying and Selling

In other news, insider Shane G. Eddy sold 35,456 shares of RTX 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 sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the company’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 value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,785 shares of company stock valued at $3,448,188. Corporate insiders own 0.13% of the company’s stock.

RTX Company 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.