Beaird Harris Wealth Management LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

Beaird Harris Wealth Management LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 42.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 468 shares of the company’s stock after acquiring an additional 139 shares during the period. Beaird Harris Wealth Management LLC’s holdings in RTX were worth $39,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. acquired a new position in RTX during the 4th quarter worth approximately $25,000. Planned Solutions Inc. acquired a new position in RTX during the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. increased its position in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the period. Valley National Advisers Inc. increased its position in 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 purchasing an additional 127 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in RTX during the 4th quarter worth approximately $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen boosted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Bank of America upped their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company upped their price target on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Finally, Citigroup upped their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $98.33.

RTX Trading Down 0.8 %

Shares of RTX stock traded down $0.80 during trading hours on Friday, reaching $104.23. 4,917,244 shares of the company’s stock were exchanged, compared to its average volume of 5,096,944. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The firm has a market capitalization of $138.57 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83. The company has a fifty day moving average of $104.00 and a 200-day moving average of $93.99. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th 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 2.42%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

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.