7,039 Shares in RTX Co. (NYSE:RTX) Acquired by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. bought a new stake in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,039 shares of the company’s stock, valued at approximately $592,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RTX. Bear Mountain Capital Inc. bought a new position in shares of RTX in the 4th quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX during the 3rd quarter valued at $28,000. Planned Solutions Inc. purchased a new stake in shares of RTX in the 4th quarter worth about $30,000. Financial Gravity Asset Management Inc. increased its stake in shares of RTX by 352.0% in the 3rd 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. Finally, Valley National Advisers Inc. boosted its stake in RTX by 37.4% during 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. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on RTX. Royal Bank of Canada lifted their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Robert W. Baird raised their price target 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. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Finally, Susquehanna lifted their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price of $96.93.

Insider Buying and Selling at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction 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 sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Insiders sold 135,618 shares of company stock valued at $13,397,978 in the last 90 days. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX stock traded up $0.71 during trading hours on Wednesday, reaching $103.94. 5,159,790 shares of the company traded hands, compared to its average volume of 8,064,601. The firm has a 50-day moving average price of $97.20 and a 200 day moving average price of $89.11. The company has a market cap of $138.19 billion, a P/E ratio of 40.48, a P/E/G ratio of 1.83 and a beta of 0.84. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.09. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the previous year, the firm earned $1.22 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts predict that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a $0.63 dividend. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s payout ratio is currently 92.55%.

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.