Naples Money Management LLC Takes $42,000 Position in RTX Co. (NYSE:RTX)

Naples Money Management LLC purchased a new stake in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 501 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Bigelow Investment Advisors LLC raised its stake in RTX by 1.6% during the 4th quarter. Bigelow Investment Advisors LLC now owns 15,523 shares of the company’s stock worth $1,306,000 after acquiring an additional 238 shares during the period. Resonant Capital Advisors LLC raised its stake in RTX by 11.9% during the 4th quarter. Resonant Capital Advisors LLC now owns 8,355 shares of the company’s stock worth $703,000 after acquiring an additional 886 shares during the period. Cutler Investment Counsel LLC raised its stake in RTX by 79.3% during the 4th quarter. Cutler Investment Counsel LLC now owns 126,748 shares of the company’s stock worth $10,665,000 after acquiring an additional 56,054 shares during the period. HTLF Bank bought a new stake in RTX during the 4th quarter worth approximately $7,697,000. Finally, Sterling Financial Planning Inc. bought a new stake in RTX during the 4th quarter worth approximately $434,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen lifted their price objective 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. Barclays lifted their price objective on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Robert W. Baird lifted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $94.44.

Insider Activity

In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is currently owned by company insiders.

RTX Stock Up 0.8 %

Shares of NYSE:RTX opened at $101.57 on Friday. The business has a 50-day moving average price of $94.55 and a 200 day moving average price of $86.44. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $135.05 billion, a price-to-earnings ratio of 45.34, a PEG ratio of 1.83 and a beta of 0.88. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.32.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same period last year, the business posted $1.27 EPS. RTX’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s payout ratio is presently 105.36%.

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.