AlphaCore Capital LLC Buys 335 Shares of RTX Co. (NYSE:RTX)

AlphaCore Capital LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,133 shares of the company’s stock after acquiring an additional 335 shares during the quarter. AlphaCore Capital LLC’s holdings in RTX were worth $1,635,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. LaFleur & Godfrey LLC lifted its holdings in shares of RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after acquiring an additional 900 shares during the period. Traynor Capital Management Inc. raised its holdings in shares of RTX by 19.3% in the fourth quarter. Traynor Capital Management Inc. now owns 2,410 shares of the company’s stock valued at $279,000 after buying an additional 390 shares during the last quarter. Red Door Wealth Management LLC raised its holdings in shares of RTX by 2.6% in the fourth quarter. Red Door Wealth Management LLC now owns 8,415 shares of the company’s stock valued at $974,000 after buying an additional 215 shares during the last quarter. New Century Financial Group LLC raised its holdings in shares of RTX by 502.3% in the fourth quarter. New Century Financial Group LLC now owns 10,492 shares of the company’s stock valued at $1,216,000 after buying an additional 8,750 shares during the last quarter. Finally, Cerro Pacific Wealth Advisors LLC raised its holdings in shares of RTX by 10.1% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 4,766 shares of the company’s stock valued at $577,000 after buying an additional 438 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Trading Down 1.3%

NYSE:RTX opened at $132.38 on Friday. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $138.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $176.85 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The business’s 50-day simple moving average is $129.13 and its 200-day simple moving average is $124.72.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.05%. RTX’s payout ratio is presently 79.77%.

Insider Buying and Selling at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,946 shares of company stock valued at $9,024,856 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RTX. Susquehanna cut their price target on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has an average rating of “Buy” and an average target price of $159.82.

RTX Company 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.