Parr Mcknight Wealth Management Group LLC Takes Position in RTX Co. (NYSE:RTX)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,537 shares of the company's stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. grew its position in RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares during the last quarter. Fusion Capital LLC grew its position in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after purchasing an additional 80 shares during the last quarter. McDonough Capital Management Inc grew its position in RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after purchasing an additional 80 shares during the last quarter. New England Professional Planning Group Inc. grew its position in RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock worth $253,000 after purchasing an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC boosted its position in shares of RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

NYSE:RTX traded up $1.62 during mid-day trading on Thursday, reaching $134.47. 1,360,382 shares of the company's stock were exchanged, compared to its average volume of 5,381,086. The business's fifty day simple moving average is $129.08 and its two-hundred day simple moving average is $124.95. The firm has a market capitalization of $179.65 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a one year low of $99.07 and a one year high of $138.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts anticipate 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. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.02%. This is a positive change from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX's payout ratio is presently 79.77%.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RTX. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. UBS Group increased their price target on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Citigroup cut their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, RTX currently has a consensus 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.