Cary Street Partners Financial LLC Makes New $19.67 Million Investment in RTX Co. (NYSE:RTX)

Cary Street Partners Financial LLC purchased a new stake in shares of RTX Co. (NYSE:RTX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 169,972 shares of the company's stock, valued at approximately $19,669,000.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of RTX by 6.4% during the third quarter. Principal Financial Group Inc. now owns 1,901,336 shares of the company's stock valued at $230,366,000 after acquiring an additional 114,283 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in RTX by 12.0% during the 4th quarter. CWA Asset Management Group LLC now owns 39,313 shares of the company's stock valued at $4,549,000 after purchasing an additional 4,198 shares during the last quarter. Iowa State Bank increased its holdings in shares of RTX by 0.3% in the 4th quarter. Iowa State Bank now owns 35,413 shares of the company's stock worth $4,098,000 after purchasing an additional 109 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of RTX in the fourth quarter worth $224,000. Finally, Strathmore Capital Advisors Inc. bought a new position in shares of RTX during the fourth quarter valued at $310,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Trading Up 2.3 %

Shares of RTX stock opened at $130.30 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a fifty day simple moving average of $128.48 and a two-hundred day simple moving average of $123.81. The firm has a market capitalization of $174.07 billion, a PE ratio of 36.70, a PEG ratio of 2.11 and a beta of 0.60. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $19.80 billion. On average, analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.09%. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio (DPR) is presently 79.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RTX shares. Citigroup reduced their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company boosted their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $161.06.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on 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 owns 81,508 shares of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 59,556 shares of the company's stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company's stock.

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.

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