Broadway Wealth Solutions Inc. Invests $1.21 Million in RTX Co. (NYSE:RTX)

Broadway Wealth Solutions Inc. bought a new position in RTX Co. (NYSE:RTX) in the fourth quarter, HoldingsChannel.com reports. The firm bought 10,439 shares of the company’s stock, valued at approximately $1,208,000. RTX accounts for 0.9% of Broadway Wealth Solutions Inc.’s investment portfolio, making the stock its 16th biggest position.

A number of other large investors have also recently added to or reduced their stakes in RTX. CX Institutional increased its stake in RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after buying an additional 11,706 shares during the last quarter. National Pension Service grew its stake in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after purchasing an additional 375,781 shares in the last quarter. LRI Investments LLC increased its position in shares of RTX by 6.5% during the 3rd quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after purchasing an additional 4,732 shares during the last quarter. Czech National Bank raised its stake in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after purchasing an additional 17,608 shares in the last quarter. Finally, Archer Investment Corp grew its stake in shares of RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after buying an additional 4,151 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent analyst reports. StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada lifted their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Morgan Stanley boosted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Susquehanna lifted their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

Insider Activity at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 over the last three months. 0.15% of the stock is owned by insiders.

RTX Trading Down 0.7 %

Shares of NYSE:RTX opened at $133.43 on Friday. The business’s 50 day simple moving average is $128.38 and its 200 day simple moving average is $122.94. RTX Co. has a 1 year low of $97.03 and a 1 year high of $136.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market capitalization of $178.14 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.89%. RTX’s dividend payout ratio is 70.99%.

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.