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

Paces Ferry Wealth Advisors LLC purchased a new stake in RTX Co. (NYSE:RTX) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,774 shares of the company’s stock, valued at approximately $233,000.

Several other institutional investors also recently made changes to their positions in the stock. Exchange Traded Concepts LLC lifted its holdings in shares of RTX by 8,351.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,184 shares of the company’s stock valued at $517,000 after buying an additional 7,099 shares during the last quarter. FAS Wealth Partners Inc. acquired a new position in shares of RTX in the 3rd quarter valued at $527,000. Compagnie Lombard Odier SCmA raised its stake in RTX by 28.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 6,000 shares of the company’s stock worth $432,000 after buying an additional 1,331 shares during the period. Toews Corp ADV acquired a new position in shares of RTX in the third quarter valued at approximately $799,000. Finally, Accurate Wealth Management LLC lifted its stake in RTX by 2.8% in the 3rd quarter. Accurate Wealth Management LLC now owns 8,525 shares of the company’s stock valued at $630,000 after acquiring an additional 236 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,547 shares of company stock worth $12,553,645. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE:RTX traded down $0.91 during mid-day trading on Tuesday, hitting $101.53. The company’s stock had a trading volume of 5,421,537 shares, compared to its average volume of 8,106,685. The business’s fifty day moving average is $95.80 and its two-hundred day moving average is $87.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market cap of $134.98 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 1.83 and a beta of 0.88. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Analysts anticipate that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 92.55%.

Analyst Ratings Changes

A number of brokerages have commented on RTX. Susquehanna upped their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Citigroup raised their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. UBS Group boosted their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird raised their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average price target of $96.93.

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.