Cetera Investment Advisers Purchases 232,103 Shares of RTX Co. (NYSE:RTX)

Cetera Investment Advisers increased its position in RTX Co. (NYSE:RTX) by 174.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 365,483 shares of the company’s stock after purchasing an additional 232,103 shares during the quarter. Cetera Investment Advisers’ holdings in RTX were worth $35,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in RTX in the 4th quarter valued at about $25,000. Alaska Permanent Fund Corp bought a new position in RTX in the 1st quarter valued at about $42,000. Tennessee Valley Asset Management Partners bought a new position in RTX in the 4th quarter valued at about $38,000. Fairman Group LLC bought a new position in RTX in the 4th quarter valued at about $38,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on RTX shares. Royal Bank of Canada increased their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Robert W. Baird increased their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Saturday. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $153.47.

RTX Stock Performance

NYSE RTX opened at $116.44 on Friday. The firm’s fifty day moving average price is $105.54 and its two-hundred day moving average price is $99.37. The stock has a market cap of $154.81 billion, a PE ratio of 45.66, a PEG ratio of 2.06 and a beta of 0.82. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $118.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. On average, equities analysts expect that RTX Co. will post 5.44 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. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Transactions at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,213 shares of company stock worth $22,963,593. Company 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.