Tyche Wealth Partners LLC Makes New Investment in RTX Co. (NYSE:RTX)

Tyche Wealth Partners LLC acquired a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,110 shares of the company’s stock, valued at approximately $1,187,000.

Other large investors have also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of RTX by 94.5% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after purchasing an additional 156,550 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of RTX by 9.2% during the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after purchasing an additional 931 shares in the last quarter. Ironwood Wealth Management LLC. lifted its position in shares of RTX by 1.2% during the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after purchasing an additional 128 shares in the last quarter. AMI Investment Management Inc. lifted its position in shares of RTX by 53.1% during the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock worth $3,517,000 after purchasing an additional 12,316 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of RTX by 1.4% during the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after purchasing an additional 2,000 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.8 %

Shares of RTX stock traded up $0.81 during trading hours on Tuesday, hitting $100.83. 7,086,164 shares of the company were exchanged, compared to its average volume of 8,335,845. The business has a 50 day moving average of $93.79 and a two-hundred day moving average of $85.82. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91. The company has a market capitalization of $134.07 billion, a PE ratio of 45.13, a PEG ratio of 1.82 and a beta of 0.88.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 105.36%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Robert W. Baird increased their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Finally, UBS Group increased their target price on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.44.

Insider Activity at RTX

In related news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated 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 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 SEC, which is accessible through this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The disclosure for this sale can be found here. Over the last 90 days, insiders 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.