Element Wealth LLC Purchases Shares of 3,006 RTX Co. (NYSE:RTX)

Element Wealth LLC acquired a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,006 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds have also recently modified their holdings of the stock. Jacobsen Capital Management grew its stake in shares of RTX by 3.0% during the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after purchasing an additional 114 shares during the period. Diligent Investors LLC raised its position in shares of RTX by 1.4% in the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after acquiring an additional 118 shares during the period. Valley National Advisers Inc. boosted its stake in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares in the last quarter. Dempze Nancy E grew its position in shares of RTX by 0.5% during the 3rd quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock valued at $2,075,000 after acquiring an additional 130 shares during the period. Finally, Chicago Capital LLC raised its holdings in RTX by 0.8% in the 4th quarter. Chicago Capital LLC now owns 15,810 shares of the company’s stock worth $1,330,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, COO Christopher T. Calio sold 367 shares of the company’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 in the company, valued at approximately $5,252,769.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock worth $3,448,188 in the last quarter. 0.13% of the stock is owned by company insiders.

RTX Trading Down 0.2 %

RTX traded down $0.18 during mid-day trading on Tuesday, hitting $101.38. 8,565,545 shares of the stock were exchanged, compared to its average volume of 8,264,415. The firm’s fifty day moving average is $94.76 and its two-hundred day moving average is $86.89. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The company has a market cap of $134.80 billion, a PE ratio of 45.18, a PEG ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last posted its earnings results 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 return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the prior year, the company earned $1.27 EPS. RTX’s revenue was up 10.1% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.33%. RTX’s dividend payout ratio (DPR) is 105.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RTX shares. Royal Bank of Canada lifted their price objective on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. Barclays increased their price target on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Finally, UBS Group boosted their target price on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, RTX has an average rating of “Hold” and a consensus target price of $93.40.

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.