Ellis Investment Partners LLC Purchases 545 Shares of RTX Co. (NYSE:RTX)

Ellis Investment Partners LLC boosted its position in shares of RTX Co. (NYSE:RTXFree Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,806 shares of the company’s stock after acquiring an additional 545 shares during the period. Ellis Investment Partners LLC’s holdings in RTX were worth $1,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC bought a new position in RTX during the third quarter valued at about $28,000. Quarry LP bought a new position in RTX during the first quarter valued at about $28,000. Planned Solutions Inc. acquired a new stake in RTX during the fourth quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. boosted its holdings in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its holdings in RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Down 0.7 %

NYSE:RTX traded down $0.67 during trading hours on Friday, hitting $100.11. 7,325,276 shares of the stock were exchanged, compared to its average volume of 8,335,078. The company’s 50 day moving average is $93.47 and its two-hundred day moving average is $85.25. RTX Co. has a twelve month low of $68.56 and a twelve month high of $104.91. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $133.11 billion, a P/E ratio of 45.15, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTXGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The firm had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 EPS. On average, sell-side analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

Insider Buying and Selling at RTX

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,785 shares of company stock worth $3,448,188. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. TD Cowen lifted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Finally, Bank of America raised RTX from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.76.

Get Our Latest Analysis on RTX

RTX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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