Petros Family Wealth LLC Buys Shares of 7,155 RTX Co. (NYSE:RTX)

Petros Family Wealth LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,155 shares of the company’s stock, valued at approximately $828,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Coign Capital Advisors LLC bought a new position in RTX in the fourth quarter valued at $832,000. Heritage Trust Co acquired a new position in shares of RTX during the 4th quarter worth about $1,437,000. Family Office Research LLC bought a new position in shares of RTX in the 4th quarter valued at about $2,355,000. Argent Trust Co increased its position in shares of RTX by 1.2% in the fourth quarter. Argent Trust Co now owns 87,052 shares of the company’s stock valued at $10,074,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in RTX by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 585,038 shares of the company’s stock valued at $67,701,000 after purchasing an additional 3,670 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Citigroup cut their price target on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Susquehanna raised their target price on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $164.73.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % 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 90 days. 0.15% of the stock is owned by corporate insiders.

RTX Stock Performance

Shares of NYSE RTX opened at $128.24 on Friday. RTX Co. has a one year low of $99.07 and a one 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 firm has a market cap of $171.21 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.11 and a beta of 0.58. The stock’s fifty day moving average price is $128.56 and its two-hundred day moving average price is $123.59.

RTX (NYSE:RTX) last released 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 net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is currently 70.99%.

About RTX

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.