RKL Wealth Management LLC Invests $312,000 in RTX Co. (NYSE:RTX)

RKL Wealth Management LLC purchased a new position in RTX Co. (NYSE:RTX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,698 shares of the company’s stock, valued at approximately $312,000.

Several other large investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of RTX in the third quarter valued at $29,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX during the fourth quarter valued at about $40,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the third quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $128.63 on Friday. RTX Co. has a 12 month low of $89.44 and a 12 month high of $135.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a fifty day moving average price of $123.78 and a 200 day moving average price of $121.70. The company has a market cap of $171.35 billion, a P/E ratio of 36.23, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. RTX’s dividend payout ratio is presently 70.99%.

Insider Buying and Selling

In other news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on RTX. Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

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.