Alteri Wealth LLC Buys New Position in RTX Co. (NYSE:RTX)

Alteri Wealth LLC bought a new position in RTX Co. (NYSE:RTX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,943 shares of the company's stock, valued at approximately $1,151,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Tidal Investments LLC increased its stake in RTX by 22.3% in the third quarter. Tidal Investments LLC now owns 31,671 shares of the company's stock valued at $3,837,000 after purchasing an additional 5,767 shares in the last quarter. DGS Capital Management LLC bought a new stake in RTX in the 3rd quarter valued at about $213,000. Principal Financial Group Inc. raised its stake in RTX by 6.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,901,336 shares of the company's stock worth $230,366,000 after buying an additional 114,283 shares during the period. Versant Capital Management Inc raised its stake in RTX by 39.5% during the 4th quarter. Versant Capital Management Inc now owns 3,227 shares of the company's stock worth $373,000 after buying an additional 914 shares during the period. Finally, GAMMA Investing LLC grew its stake in RTX by 5.8% in the fourth quarter. GAMMA Investing LLC now owns 27,869 shares of the company's stock valued at $3,225,000 after acquiring an additional 1,528 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Bank of America raised their price objective on shares of RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. UBS Group boosted their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada dropped their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their target price on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $161.06.

RTX Trading Up 2.3 %

Shares of RTX stock opened at $130.30 on Friday. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $128.48 and a 200-day moving average of $123.84. The firm has a market cap of $174.07 billion, a P/E ratio of 36.70, a PEG ratio of 2.11 and a beta of 0.58.

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

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. 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 2.09%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's payout ratio is 73.90%.

Insider Transactions at RTX

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was 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 owns 59,556 shares of the company's stock, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by company insiders.

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.

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