Revolve Wealth Partners LLC Invests $244,000 in RTX Co. (NYSE:RTX)

Revolve Wealth Partners LLC acquired a new position in shares of RTX Co. (NYSE:RTX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,506 shares of the company’s stock, valued at approximately $244,000.

Several other large investors have also modified their holdings of the stock. Bear Mountain Capital Inc. acquired a new stake in shares of RTX in the fourth quarter worth $25,000. Planned Solutions Inc. acquired a new stake in shares of RTX in the fourth quarter worth $30,000. Financial Gravity Asset Management Inc. boosted its position in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the period. Valley National Advisers Inc. boosted its position in shares of RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of RTX in the fourth quarter worth $38,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RTX. UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Barclays lifted their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.33.

RTX Trading Down 0.6 %

RTX stock opened at $100.63 on Friday. The firm has a 50-day moving average of $104.44 and a 200-day moving average of $95.34. RTX Co. has a one year low of $68.56 and a one year high of $108.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market cap of $133.78 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 1.78 and a beta of 0.83.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the business posted $1.22 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Activity

In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock valued at $12,256,952 in the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Company Profile

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.