C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New $350,000 Investment in RTX Co. (NYSE:RTX)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of RTX Co. (NYSE:RTX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,890 shares of the company’s stock, valued at approximately $350,000.

Other institutional investors also recently modified their holdings of the company. Briaud Financial Planning Inc increased its holdings in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter valued at $41,000. Finally, Alaska Permanent Fund Corp purchased a new stake in RTX in the first quarter worth $42,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX opened at $122.94 on Friday. The company has a 50-day simple moving average of $119.71 and a two-hundred day simple moving average of $109.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $163.54 billion, a PE ratio of 71.06, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. RTX Co. has a one year low of $72.29 and a one year high of $125.93.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the business earned $1.29 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. On average, analysts anticipate that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.05%. RTX’s dividend payout ratio (DPR) is presently 145.67%.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. Melius Research boosted their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $162.50.

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.