Florida Financial Advisors LLC Buys 2,442 Shares of RTX Corporation (NYSE:RTX)

by · The Markets Daily

Florida Financial Advisors LLC boosted its position in shares of RTX Corporation (NYSE:RTX – Free Report) by 102.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,821 shares of the company’s stock after buying an additional 2,442 shares during the quarter. Florida Financial Advisors LLC’s holdings in RTX were worth $638,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RTX. MorganRosel Wealth Management LLC acquired a new position in shares of RTX during the first quarter valued at $26,000. 10Elms LLP bought a new stake in RTX during the 4th quarter worth about $29,000. Picton Mahoney Asset Management lifted its position in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC bought a new position in shares of RTX in the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX in the 4th quarter valued at about $39,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of RTX opened at $146.80 on Monday. The stock has a 50 day simple moving average of $139.16 and a 200 day simple moving average of $130.49. RTX Corporation has a 52-week low of $101.52 and a 52-week high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market capitalization of $196.12 billion, a PE ratio of 43.05, a P/E/G ratio of 2.73 and a beta of 0.64.

RTX (NYSE:RTX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. RTX’s payout ratio is presently 79.77%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RTX has been the topic of several analyst reports. Cowen restated a “buy” rating on shares of RTX in a report on Friday, May 23rd. Susquehanna cut their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus target price of $161.12.

Check Out Our Latest Stock Report on RTX

RTX Company 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.

See Also

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