Trace Wealth Advisors LLC Takes Position in RTX Co. (NYSE:RTX)

Trace Wealth Advisors LLC purchased a new stake in RTX Co. (NYSE:RTX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,510 shares of the company's stock, valued at approximately $406,000.

A number of other large investors have also made changes to their positions in the stock. TrinityPoint Wealth LLC grew its position in RTX by 2.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 39,517 shares of the company's stock worth $4,573,000 after acquiring an additional 765 shares during the period. State of Wyoming grew its position in RTX by 245.2% in the fourth quarter. State of Wyoming now owns 9,235 shares of the company's stock worth $1,069,000 after acquiring an additional 6,560 shares during the period. Stonebrook Private Inc. grew its position in RTX by 7.8% in the fourth quarter. Stonebrook Private Inc. now owns 2,041 shares of the company's stock worth $236,000 after acquiring an additional 148 shares during the period. Toronto Dominion Bank grew its position in RTX by 30.7% in the fourth quarter. Toronto Dominion Bank now owns 765,605 shares of the company's stock worth $88,595,000 after acquiring an additional 179,698 shares during the period. Finally, Safeguard Investment Advisory Group LLC purchased a new position in RTX in the fourth quarter worth approximately $204,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RTX. Bank of America increased their price objective on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. UBS Group upped their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada decreased their price target on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $159.82.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This trade represents a 35.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock valued at $9,024,856 over the last quarter. 0.15% of the stock is owned by insiders.

RTX Stock Down 0.1%

Shares of NYSE RTX opened at $135.37 on Friday. The stock has a market cap of $180.85 billion, a P/E ratio of 38.13, 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 12-month low of $99.07 and a 12-month high of $136.40. The business's fifty day simple moving average is $128.66 and its 200-day simple moving average is $124.20.

RTX (NYSE:RTX - Get Free Report) last posted 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. 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%. As a group, equities analysts predict that RTX Co. will post 6.11 EPS 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 $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is 79.77%.

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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