Petros Family Wealth LLC Buys New Shares in RTX Co. (NYSE:RTX)

Petros Family Wealth LLC purchased a new position in shares of RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,155 shares of the company's stock, valued at approximately $828,000.

Several other institutional investors have also recently added to or reduced their stakes in RTX. Fairway Wealth LLC purchased a new position in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of RTX in the 4th quarter valued at approximately $39,000. Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in RTX in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Down 0.4 %

NYSE:RTX traded down $0.55 on Tuesday, reaching $128.59. The stock had a trading volume of 6,299,069 shares, compared to its average volume of 5,502,574. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The stock has a market cap of $171.68 billion, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average of $128.56 and a 200 day moving average of $123.68.

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RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. RTX's payout ratio is currently 70.99%.

Wall Street Analyst Weigh In

RTX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada raised their price objective on RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday. Citigroup cut their price target on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, RTX presently has an average rating of "Moderate Buy" and a consensus target price of $165.27.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were 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 directly owns 44,415 shares in the company, valued at $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 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company's stock.

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.