Naples Money Management LLC Makes New $42,000 Investment in RTX Co. (NYSE:RTX)

Naples Money Management LLC purchased a new position in RTX Co. (NYSE:RTX) in the fourth quarter, Holdings Channel reports. The fund purchased 501 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Morgan Stanley lifted its position in shares of RTX by 11.3% in the fourth quarter. Morgan Stanley now owns 30,509,436 shares of the company’s stock worth $3,079,013,000 after buying an additional 3,104,282 shares during the last quarter. Norges Bank bought a new position in RTX during the fourth quarter valued at about $1,580,608,000. Northern Trust Corp increased its stake in RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of RTX by 87,932.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,614,259 shares of the company’s stock valued at $1,373,951,000 after purchasing an additional 13,598,794 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of RTX by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $78.00 to $100.00 in a research report on Thursday, January 25th. TD Cowen upped their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, UBS Group upped their price objective on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, RTX has a consensus rating of “Hold” and an average price target of $94.44.

RTX Stock Performance

RTX stock opened at $101.57 on Friday. The company has a market cap of $135.05 billion, a P/E ratio of 45.34, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.32. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average is $94.55 and its 200-day moving average is $86.44.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $19.93 billion for the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. Equities research analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is presently 105.36%.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by company insiders.

RTX 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.