Rialto Wealth Management LLC Invests $823,000 in RTX Co. (NYSE:RTX)

Rialto Wealth Management LLC purchased a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,114 shares of the company’s stock, valued at approximately $823,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fusion Capital LLC grew its holdings in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after buying an additional 80 shares in the last quarter. McDonough Capital Management Inc increased its position in RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after purchasing an additional 80 shares during the last quarter. New England Professional Planning Group Inc. raised its stake in RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares during the period. Pointe Capital Management LLC boosted its holdings in RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares during the last quarter. Finally, Avestar Capital LLC grew its stake in shares of RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Bank of America lifted their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Susquehanna boosted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’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 sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

RTX Price Performance

RTX stock opened at $128.63 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52-week low of $89.44 and a 52-week high of $135.36. The firm has a market cap of $171.35 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company’s 50 day moving average is $123.78 and its two-hundred day moving average is $121.70.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, research analysts expect that RTX Co. will post 6.11 EPS for the current fiscal 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 paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. RTX’s payout ratio is 70.99%.

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.