Axxcess Wealth Management LLC Acquires 1,681 Shares of RTX Co. (NYSE:RTX)

Axxcess Wealth Management LLC grew its position in shares of RTX Co. (NYSE:RTX) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,813 shares of the company’s stock after buying an additional 1,681 shares during the quarter. Axxcess Wealth Management LLC’s holdings in RTX were worth $6,574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Edgemoor Investment Advisors Inc. grew its holdings in shares of RTX by 16.8% during the fourth quarter. Edgemoor Investment Advisors Inc. now owns 4,459 shares of the company’s stock valued at $516,000 after buying an additional 641 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of RTX during the fourth quarter valued at approximately $259,000. Wealth Architects LLC grew its holdings in shares of RTX by 9.4% during the fourth quarter. Wealth Architects LLC now owns 5,781 shares of the company’s stock valued at $669,000 after buying an additional 495 shares during the last quarter. Cozad Asset Management Inc. grew its holdings in shares of RTX by 16.4% during the fourth quarter. Cozad Asset Management Inc. now owns 4,262 shares of the company’s stock valued at $493,000 after buying an additional 600 shares during the last quarter. Finally, 1ST Source Bank grew its holdings in shares of RTX by 1.3% during the fourth quarter. 1ST Source Bank now owns 25,160 shares of the company’s stock valued at $2,912,000 after buying an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RTX shares. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Bank of America raised 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. Royal Bank of Canada raised their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and an average price target of $163.40.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 19,431 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now owns 29,742 shares in the company, valued at $3,771,880.44. The trade was a 39.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was 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 in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.13% of the stock is owned by corporate insiders.

RTX Trading Up 1.4 %

Shares of RTX stock opened at $131.86 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 1-year low of $92.35 and a 1-year high of $135.36. The company’s fifty day simple moving average is $125.69 and its 200-day simple moving average is $122.23. The stock has a market capitalization of $176.04 billion, a PE ratio of 37.14, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) 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.