High Note Wealth LLC Grows Stock Position in RTX Co. (NYSE:RTX)

High Note Wealth LLC boosted its stake in RTX Co. (NYSE:RTX) by 6.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,155 shares of the company’s stock after purchasing an additional 768 shares during the period. High Note Wealth LLC’s holdings in RTX were worth $1,107,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC acquired a new stake in RTX in the 3rd quarter valued at approximately $28,000. Quarry LP acquired a new position in shares of RTX in the first quarter worth $28,000. Financial Gravity Asset Management Inc. grew its stake in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares in the last quarter. Valley National Advisers Inc. grew its stake in shares of RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after acquiring an additional 127 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of RTX in the third quarter worth $35,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock worth $3,448,188 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. UBS Group lifted their price objective on shares of RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, TD Cowen boosted their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.12.

RTX Trading Up 1.4 %

Shares of RTX stock opened at $97.45 on Thursday. RTX Co. has a 52-week low of $68.56 and a 52-week high of $104.91. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s 50-day simple moving average is $91.16 and its 200-day simple moving average is $83.42. The firm has a market cap of $129.57 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period in the prior year, the business posted $1.27 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. RTX’s dividend payout ratio is presently 105.36%.

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.