Beacon Harbor Wealth Advisors Inc. Makes New Investment in RTX Co. (NYSE:RTX)

Beacon Harbor Wealth Advisors Inc. acquired a new stake in RTX Co. (NYSE:RTX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75,204 shares of the company’s stock, valued at approximately $6,328,000. RTX comprises 1.8% of Beacon Harbor Wealth Advisors Inc.’s holdings, making the stock its 16th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners purchased a new stake in shares of RTX during the 3rd quarter worth about $355,350,000. Van ECK Associates Corp raised its stake in shares of RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after acquiring an additional 2,294,908 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of RTX by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after acquiring an additional 1,914,184 shares in the last quarter. Sanders Capital LLC boosted its position in RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in RTX by 12,753.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after purchasing an additional 1,389,143 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of several analyst reports. Robert W. Baird upped their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada lifted their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Barclays upped their target price on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday. Susquehanna boosted their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, TD Cowen raised 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 investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, RTX has an average rating of “Hold” and a consensus price target of $96.93.

Insider Buying and Selling

In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on 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 $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the company’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 sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Insiders sold 127,547 shares of company stock valued at $12,553,645 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Performance

RTX stock traded up $0.34 during midday trading on Thursday, reaching $101.56. The company had a trading volume of 2,169,298 shares, compared to its average volume of 8,057,930. The firm has a market capitalization of $135.03 billion, a PE ratio of 39.73, a P/E/G ratio of 1.83 and a beta of 0.84. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average price of $96.23 and a 200 day moving average price of $88.21.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. Analysts anticipate that RTX Co. will post 5.4 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 issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. RTX’s dividend payout ratio (DPR) is presently 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.