Lionshead Wealth Management LLC Acquires New Holdings in RTX Co. (NYSE:RTX)

Lionshead Wealth Management LLC bought a new position in RTX Co. (NYSE:RTX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,720 shares of the company's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter worth about $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% in the 4th 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 period. Greenline Partners LLC acquired a new stake in shares of RTX in the 4th quarter worth approximately $34,000. Millstone Evans Group LLC acquired a new stake in RTX during the fourth quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in RTX during the fourth quarter valued at approximately $40,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. 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 research report on Wednesday, April 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research note on Wednesday. Susquehanna lowered their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Bank of America raised their price target on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, RTX presently has a consensus rating of "Buy" and a consensus target price of $159.82.

RTX Price Performance

Shares of NYSE RTX traded up $0.10 during trading on Wednesday, reaching $130.82. The company had a trading volume of 4,840,983 shares, compared to its average volume of 5,408,069. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17. The stock has a market cap of $174.77 billion, a PE ratio of 36.85, a PEG ratio of 2.11 and a beta of 0.60. 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 business's 50 day moving average price is $128.37 and its 200-day moving average price is $124.03.

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

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.08%. RTX's payout ratio is currently 79.77%.

Insiders Place Their Bets

In related news, insider Troy D. Brunk sold 2,872 shares of the business's 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 completion of the sale, the insider now directly owns 5,272 shares of the company's stock, valued at $664,008.40. The trade was a 35.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This trade represents a 25.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,946 shares of company stock valued at $9,024,856. 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.