Rialto Wealth Management LLC Buys New Shares in RTX Co. (NYSE:RTX)

Rialto Wealth Management LLC bought a new position in shares of RTX Co. (NYSE:RTX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,114 shares of the company's stock, valued at approximately $823,000.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of RTX by 1.9% during the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company's stock worth $3,290,622,000 after acquiring an additional 508,344 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of RTX by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company's stock worth $1,185,832,000 after acquiring an additional 151,474 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of RTX by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company's stock worth $1,134,851,000 after purchasing an additional 549,814 shares during the period. Finally, FMR LLC increased its holdings in shares of RTX by 8.7% in the third quarter. FMR LLC now owns 6,102,848 shares of the company's stock worth $739,421,000 after purchasing an additional 490,109 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Morgan Stanley upped their price target on shares of RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. StockNews.com cut shares of RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Susquehanna upped their price target on shares of RTX from $139.00 to $147.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada increased their target price on RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $163.40.

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last 90 days. Corporate insiders own 0.13% of the company's stock.

RTX Trading Up 0.3 %

Shares of RTX stock traded up $0.35 during trading on Friday, reaching $128.63. 6,417,602 shares of the stock were exchanged, compared to its average volume of 5,617,576. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 1 year low of $89.44 and a 1 year high of $135.36. The stock's fifty day moving average is $124.02 and its 200 day moving average is $121.79. The firm has a market cap of $171.35 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX's dividend payout ratio (DPR) is currently 70.99%.

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.