Tyche Wealth Partners LLC Buys Shares of 14,110 RTX Co. (NYSE:RTX)

Tyche Wealth Partners LLC bought a new stake in RTX Co. (NYSE:RTX) during the 4th quarter, Holdings Channel.com reports. The fund bought 14,110 shares of the company’s stock, valued at approximately $1,187,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allen Capital Group LLC grew its stake in RTX by 3.7% in the fourth quarter. Allen Capital Group LLC now owns 17,427 shares of the company’s stock valued at $1,466,000 after purchasing an additional 621 shares during the last quarter. Main Street Research LLC acquired a new stake in RTX in the fourth quarter worth about $241,000. Octavia Wealth Advisors LLC boosted its holdings in RTX by 3.5% in the fourth quarter. Octavia Wealth Advisors LLC now owns 4,263 shares of the company’s stock worth $359,000 after acquiring an additional 143 shares in the last quarter. Marietta Wealth Management LLC boosted its holdings in RTX by 3.8% in the fourth quarter. Marietta Wealth Management LLC now owns 64,322 shares of the company’s stock worth $5,412,000 after acquiring an additional 2,357 shares in the last quarter. Finally, Investment Advisory Group LLC boosted its holdings in RTX by 24.2% in the fourth quarter. Investment Advisory Group LLC now owns 3,890 shares of the company’s stock worth $327,000 after acquiring an additional 759 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX traded up $0.81 during trading hours on Tuesday, hitting $100.83. 7,086,164 shares of the stock were exchanged, compared to its average volume of 8,335,845. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.91. The company has a market cap of $134.07 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 1.82 and a beta of 0.88. The stock’s 50-day moving average price is $93.79 and its two-hundred day moving average price is $85.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. The firm had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 earnings per share. Research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 105.36%.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group raised their price target on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Bank of America raised RTX from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Finally, Barclays lifted their target price on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus price target of $94.44.

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.