Laurel Wealth Advisors LLC Acquires 1,741 Shares of RTX Co. (NYSE:RTX)

Laurel Wealth Advisors LLC raised its holdings in RTX Co. (NYSE:RTX) by 7.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,803 shares of the company’s stock after purchasing an additional 1,741 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in RTX were worth $2,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after purchasing an additional 6,932,011 shares during the period. Northern Trust Corp increased its stake in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after purchasing an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares during the period. Sanders Capital LLC increased its stake in shares of RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares during the period. Finally, Norges Bank bought a new position in shares of RTX during the fourth quarter worth approximately $690,154,000. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RTX shares. UBS Group increased their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird raised their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Susquehanna raised their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday. Barclays raised their target price on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Finally, Citigroup lifted their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.27.

RTX Stock Performance

RTX stock traded down $0.30 during midday trading on Friday, reaching $101.41. 4,428,318 shares of the company’s stock traded hands, compared to its average volume of 8,154,806. The company has a 50-day moving average price of $95.57 and a two-hundred day moving average price of $87.51. The firm has a market capitalization of $134.83 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 1.07. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. As a group, equities analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.33%. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Buying and Selling

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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction dated 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 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 ninety days, insiders sold 37,785 shares of company stock worth $3,448,188. Corporate insiders own 0.13% of the company’s stock.

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.