Clearstead Trust LLC Acquires 88 Shares of RTX Co. (NYSE:RTX)

Clearstead Trust LLC boosted its holdings in shares of RTX Co. (NYSE:RTX) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,142 shares of the company’s stock after purchasing an additional 88 shares during the quarter. Clearstead Trust LLC’s holdings in RTX were worth $479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in RTX during the 3rd quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new position in RTX during the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new position in RTX during the 4th quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in RTX during the 4th quarter valued at approximately $40,000. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.13% of the company’s stock.

RTX Trading Up 0.6 %

Shares of NYSE RTX opened at $130.00 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $125.33 and a two-hundred day simple moving average of $122.14. The firm has a market cap of $173.56 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a twelve month low of $91.05 and a twelve month high of $135.36.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is 70.99%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their target price on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Finally, Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.40.

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.