RTX Co. (NYSE:RTX) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its holdings in RTX Co. (NYSE:RTX - Free Report) by 74.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,791 shares of the company's stock after purchasing an additional 24,695 shares during the period. Apollon Wealth Management LLC's holdings in RTX were worth $4,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of RTX by 1.9% in the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company's stock valued at $987,871,000 after acquiring an additional 256,215 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company's stock valued at $784,735,000 after purchasing an additional 60,319 shares during the last quarter. Sanders Capital LLC raised its holdings in shares of RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company's stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of RTX by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company's stock worth $602,941,000 after buying an additional 1,914,184 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of RTX by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 6,665,887 shares of the company's stock valued at $479,744,000 after buying an additional 593,305 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Susquehanna lifted their target price on RTX from $110.00 to $119.00 and gave the company a "positive" rating in a research note on Wednesday, April 24th. Bank of America increased their target price on RTX from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their price target on shares of RTX from $94.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Wells Fargo & Company reiterated an "overweight" rating and issued a $120.00 price objective on shares of RTX in a research report on Monday, April 1st. Finally, Citigroup upped their target price on shares of RTX from $95.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $96.93.

RTX Price Performance

NYSE RTX traded up $0.51 on Monday, reaching $101.91. The company's stock had a trading volume of 3,372,626 shares, compared to its average volume of 8,110,990. The firm's 50 day moving average is $96.70 and its two-hundred day moving average is $88.70. The stock has a market cap of $135.49 billion, a PE ratio of 39.99, a PEG ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business's quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 earnings per share. As a group, sell-side analysts predict that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.47%. This is an increase from RTX's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. RTX's dividend payout ratio is currently 92.55%.

Insider Activity at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares of the company's stock, valued at $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Gregory Hayes sold 89,762 shares of the firm's stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company's stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares of the company's stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders sold 137,842 shares of company stock worth $13,603,426 in the last quarter. 0.13% of the stock is owned by company insiders.

About RTX

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.

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Co. (NYSE:RTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.