Challenger Wealth Management Acquires Shares of 2,530 RTX Co. (NYSE:RTX)

Challenger Wealth Management acquired a new stake in RTX Co. (NYSE:RTX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,530 shares of the company's stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. 10Elms LLP purchased a new stake in shares of RTX during the fourth quarter worth approximately $29,000. Fairway Wealth LLC acquired a new stake in RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management boosted its position in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new position in RTX in the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 1.1%

Shares of RTX stock traded up $1.42 during trading hours on Friday, hitting $136.22. 1,721,904 shares of the company were exchanged, compared to its average volume of 5,242,663. The business has a 50 day moving average of $129.08 and a two-hundred day moving average of $125.03. The company has a market capitalization of $181.99 billion, a PE ratio of 38.37, a PEG ratio of 2.11 and a beta of 0.60. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $99.07 and a 52 week high of $138.82.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal 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 paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.00%. 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 is presently 79.77%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RTX. Wall Street Zen upgraded RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. 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 research report on Monday, April 28th. Royal Bank of Canada lowered their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Finally, Bank of America upped their target price on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $159.82.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.15% 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.