SlateStone Wealth LLC Has $4.15 Million Stake in RTX Co. (NYSE:RTX)

SlateStone Wealth LLC boosted its stake in RTX Co. (NYSE:RTX) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,371 shares of the company’s stock after buying an additional 2,923 shares during the quarter. SlateStone Wealth LLC’s holdings in RTX were worth $4,154,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RTX. Cary Street Partners Investment Advisory LLC boosted its stake in RTX by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after purchasing an additional 28,910 shares in the last quarter. Rockline Wealth Management LLC acquired a new position in RTX in the fourth quarter worth $2,438,000. B&D White Capital Company LLC acquired a new position in RTX in the third quarter worth $14,186,000. PDS Planning Inc acquired a new position in RTX in the fourth quarter worth $356,000. Finally, Cullen Investment Group LTD. acquired a new position in RTX in the fourth quarter worth $843,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent analyst reports. Bank of America raised RTX from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. Royal Bank of Canada increased their target price on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Finally, TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $94.00.

RTX Trading Down 0.5 %

NYSE RTX opened at $100.86 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The firm has a market cap of $134.11 billion, a P/E ratio of 45.24, a P/E/G ratio of 1.85 and a beta of 0.88. RTX Co. has a one year low of $68.56 and a one year high of $103.89. The stock’s 50-day moving average is $94.97 and its 200-day moving average is $87.12.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. Sell-side analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. RTX’s payout ratio is presently 105.36%.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now directly 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 this link. Also, insider Shane G. Eddy sold 35,456 shares of the firm’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 value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by corporate insiders.

RTX 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.