New Wave Wealth Advisors LLC Has $571,000 Holdings in RTX Corporation (NYSE:RTX)

by · The Markets Daily

New Wave Wealth Advisors LLC lifted its holdings in RTX Corporation (NYSE:RTX – Free Report) by 38.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,309 shares of the company’s stock after purchasing an additional 1,187 shares during the period. New Wave Wealth Advisors LLC’s holdings in RTX were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. 10Elms LLP bought a new stake in RTX during the fourth quarter valued at about $29,000. Fairway Wealth LLC bought a new stake in RTX during the fourth quarter valued at about $31,000. Picton Mahoney Asset Management raised its position in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new position in shares of RTX during the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Up 1.4%

Shares of NYSE RTX opened at $144.64 on Monday. The company’s 50 day simple moving average is $134.87 and its 200 day simple moving average is $128.46. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26. The firm has a market capitalization of $193.23 billion, a P/E ratio of 42.42, a P/E/G ratio of 2.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.88%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. Royal Bank Of Canada lowered their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and upped their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, June 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.12.

Check Out Our Latest Analysis on RTX

About RTX

(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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