Koshinski Asset Management Inc. Purchases Shares of 18,799 RTX Co. (NYSE:RTX)

Koshinski Asset Management Inc. acquired a new position in RTX Co. (NYSE:RTX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,799 shares of the company’s stock, valued at approximately $2,278,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ballew Advisors Inc bought a new stake in shares of RTX during the 3rd quarter valued at $220,000. CHICAGO TRUST Co NA lifted its position in RTX by 18.2% during the third quarter. CHICAGO TRUST Co NA now owns 11,636 shares of the company’s stock valued at $1,410,000 after purchasing an additional 1,790 shares in the last quarter. Carnegie Investment Counsel grew its holdings in RTX by 0.3% during the third quarter. Carnegie Investment Counsel now owns 113,231 shares of the company’s stock valued at $13,718,000 after purchasing an additional 362 shares during the period. Brown Miller Wealth Management LLC increased its position in RTX by 0.6% in the third quarter. Brown Miller Wealth Management LLC now owns 24,582 shares of the company’s stock worth $2,978,000 after buying an additional 153 shares in the last quarter. Finally, HCR Wealth Advisors raised its stake in shares of RTX by 20.9% in the third quarter. HCR Wealth Advisors now owns 5,193 shares of the company’s stock worth $629,000 after buying an additional 896 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RTX. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Robert W. Baird raised their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company dropped their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $162.50.

RTX Price Performance

Shares of RTX stock traded up $0.99 during trading hours on Friday, reaching $123.93. The company’s stock had a trading volume of 2,556,167 shares, compared to its average volume of 5,653,164. The firm has a 50 day moving average price of $119.86 and a 200-day moving average price of $109.49. 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 stock has a market cap of $164.86 billion, a P/E ratio of 71.64, a P/E/G ratio of 2.18 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 issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. On average, analysts predict that RTX Co. will post 5.46 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.03%. RTX’s payout ratio is 145.67%.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated 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 directly owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last ninety days. 0.13% of the stock is owned by company 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.