Legacy Financial Advisors Inc. Buys 1,315 Shares of RTX Co. (NYSE:RTX)

Legacy Financial Advisors Inc. grew its stake in shares of RTX Co. (NYSE:RTX) by 38.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,717 shares of the company’s stock after purchasing an additional 1,315 shares during the period. Legacy Financial Advisors Inc.’s holdings in RTX were worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in shares of RTX during the 4th quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX during the 3rd quarter valued at $28,000. Planned Solutions Inc. purchased a new position in RTX during the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. increased its stake in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in shares of RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock traded down $0.49 during midday trading on Friday, hitting $101.40. The company’s stock had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.89. The company has a 50 day moving average of $96.70 and a two-hundred day moving average of $88.49. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $134.81 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts expect that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. RTX’s payout ratio is presently 92.55%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Royal Bank of Canada raised their target price on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. UBS Group raised their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Barclays raised their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $96.93.

Insider Buying and Selling at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value 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 disclosure for this sale can be found here. Insiders have sold 137,842 shares of company stock worth $13,603,426 over the last quarter. Insiders own 0.13% of the company’s stock.

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.