LongView Wealth Management Invests $218,000 in RTX Co. (NYSE:RTX)

LongView Wealth Management bought a new stake in shares of RTX Co. (NYSE:RTX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,797 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Iowa State Bank increased its position in RTX by 128.9% during the third quarter. Iowa State Bank now owns 35,304 shares of the company’s stock worth $4,277,000 after acquiring an additional 19,880 shares during the period. Fermata Advisors LLC increased its holdings in shares of RTX by 4.3% during the 3rd quarter. Fermata Advisors LLC now owns 2,307 shares of the company’s stock worth $280,000 after purchasing an additional 96 shares during the period. Strong Tower Advisory Services raised its position in shares of RTX by 7.2% during the third quarter. Strong Tower Advisory Services now owns 19,519 shares of the company’s stock valued at $2,365,000 after buying an additional 1,314 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its stake in shares of RTX by 1.6% in the third quarter. Franklin Street Advisors Inc. NC now owns 181,201 shares of the company’s stock valued at $21,954,000 after buying an additional 2,806 shares during the period. Finally, Steigerwald Gordon & Koch Inc. grew its position in RTX by 4.1% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 191,447 shares of the company’s stock worth $23,196,000 after buying an additional 7,554 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 over the last three months. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on RTX. The Goldman Sachs Group upped their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and boosted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Robert W. Baird increased their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $162.50.

RTX Trading Up 0.8 %

RTX opened at $123.93 on Friday. RTX Co. has a 1-year low of $72.29 and a 1-year high of $125.93. The stock has a market capitalization of $164.86 billion, a PE ratio of 71.64, a PEG ratio of 2.18 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $119.86 and a two-hundred day moving average price of $109.49.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the business posted $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that RTX Co. will post 5.46 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is 145.67%.

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.