Patriot Financial Group Insurance Agency LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Patriot Financial Group Insurance Agency LLC increased its stake in RTX Co. (NYSE:RTX) by 6.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,886 shares of the company’s stock after acquiring an additional 971 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in RTX were worth $1,421,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Symphony Financial Ltd. Co. grew its holdings in shares of RTX by 26.7% during the fourth quarter. Symphony Financial Ltd. Co. now owns 10,278 shares of the company’s stock worth $879,000 after buying an additional 2,167 shares in the last quarter. Chilton Capital Management LLC grew its holdings in shares of RTX by 56.2% during the fourth quarter. Chilton Capital Management LLC now owns 5,439 shares of the company’s stock worth $458,000 after buying an additional 1,956 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of RTX by 18.9% in the fourth quarter. Gradient Investments LLC now owns 201,921 shares of the company’s stock valued at $16,990,000 after purchasing an additional 32,111 shares during the period. Precedent Wealth Partners LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $910,000. Finally, Winch Advisory Services LLC grew its holdings in shares of RTX by 8.6% in the fourth quarter. Winch Advisory Services LLC now owns 11,434 shares of the company’s stock valued at $962,000 after purchasing an additional 910 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.1 %

RTX stock traded up $0.08 during mid-day trading on Friday, hitting $97.53. The company had a trading volume of 10,700,981 shares, compared to its average volume of 8,932,362. The stock has a market cap of $129.68 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 1.78 and a beta of 0.87. RTX Co. has a 1 year low of $68.56 and a 1 year high of $104.91. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $91.65 and a 200 day moving average of $83.66.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. On average, sell-side analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared 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. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is presently 105.36%.

Insider Buying and Selling

In related news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other RTX news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 312 shares of RTX 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 sale, 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 a total of 37,785 shares of company stock valued at $3,448,188 over the last three months. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RTX. Robert W. Baird reissued a “neutral” rating and issued a $94.00 price objective (up previously from $88.00) on shares of RTX in a report on Tuesday, January 16th. UBS Group upped their target price on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Royal Bank of Canada upped their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and upped their target price for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $95.12.

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.