Thrive Wealth Management LLC Buys 599 Shares of RTX Co. (NYSE:RTX)

Thrive Wealth Management LLC grew its stake in shares of RTX Co. (NYSE:RTX) by 17.4% in the first quarter, Holdings Channel reports. The fund owned 4,039 shares of the company’s stock after acquiring an additional 599 shares during the quarter. Thrive Wealth Management LLC’s holdings in RTX were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Valley National Advisers Inc. raised its holdings in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after acquiring an additional 127 shares during the period. Tower Research Capital LLC TRC grew its position in shares of RTX by 282.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 85,450 shares of the company’s stock valued at $6,150,000 after purchasing an additional 63,099 shares in the last quarter. Morningstar Investment Services LLC increased its holdings in shares of RTX by 36.0% in the third quarter. Morningstar Investment Services LLC now owns 219,128 shares of the company’s stock worth $15,777,000 after purchasing an additional 57,970 shares during the period. Cape Cod Five Cents Savings Bank raised its position in shares of RTX by 23.0% in the third quarter. Cape Cod Five Cents Savings Bank now owns 27,622 shares of the company’s stock worth $1,988,000 after buying an additional 5,159 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new stake in RTX during the third quarter valued at $594,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.6 %

Shares of RTX stock traded down $0.64 on Thursday, hitting $100.63. The stock had a trading volume of 6,955,380 shares, compared to its average volume of 7,543,147. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a one year low of $68.56 and a one year high of $108.65. The stock’s 50-day simple moving average is $104.44 and its two-hundred day simple moving average is $95.34. The stock has a market cap of $133.78 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 1.78 and a beta of 0.83.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 earnings per share. As a group, sell-side analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent analyst reports. Barclays raised their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Susquehanna raised their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Citigroup boosted their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird raised their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, TD Cowen lifted their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. 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 company’s stock. According to MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $98.33.

Insider Transactions at RTX

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were 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 of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on 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 owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by insiders.

RTX Company 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.