Golden State Wealth Management LLC Acquires Shares of 3,906 RTX Co. (NYSE:RTX)

Golden State Wealth Management LLC bought a new position in RTX Co. (NYSE:RTX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,906 shares of the company’s stock, valued at approximately $452,000.

Several other large investors have also added to or reduced their stakes in RTX. Archer Investment Corp boosted its position in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after buying an additional 4,151 shares during the last quarter. Beese Fulmer Investment Management Inc. lifted its stake in RTX by 0.4% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 175,590 shares of the company’s stock valued at $20,319,000 after acquiring an additional 620 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in RTX by 4.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 148,284 shares of the company’s stock worth $17,159,000 after acquiring an additional 6,517 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of RTX by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock worth $342,886,000 after acquiring an additional 25,407 shares in the last quarter. Finally, RNC Capital Management LLC raised its holdings in shares of RTX by 303.8% in the fourth quarter. RNC Capital Management LLC now owns 13,615 shares of the company’s stock valued at $1,576,000 after purchasing an additional 10,243 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RTX shares. JPMorgan Chase & Co. boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Barclays upped their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Finally, Susquehanna boosted their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Down 0.6 %

RTX stock opened at $128.07 on Friday. The firm has a market capitalization of $170.60 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 2.17 and a beta of 0.82. The firm has a 50 day simple moving average of $119.99 and a 200 day simple moving average of $120.07. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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.