Potomac Fund Management Inc. ADV Makes New Investment in RTX Co. (NYSE:RTX)

Potomac Fund Management Inc. ADV bought a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 4,292 shares of the company’s stock, valued at approximately $497,000.

Other large investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. lifted its holdings in RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after acquiring an additional 79 shares during the last quarter. Fusion Capital LLC raised its position in shares of RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares during the period. McDonough Capital Management Inc lifted its holdings in shares of RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after purchasing an additional 80 shares during the last quarter. New England Professional Planning Group Inc. boosted its position in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after purchasing an additional 81 shares during the period. Finally, Pointe Capital Management LLC grew its stake in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the transaction, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This trade represents a 21.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by insiders.

RTX Stock Up 0.3 %

RTX opened at $132.85 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $177.36 billion, a PE ratio of 37.42, a P/E/G ratio of 2.11 and a beta of 0.78. The stock’s fifty day moving average is $128.96 and its 200-day moving average is $123.24. RTX Co. has a one year low of $97.03 and a one year high of $136.17.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 70.99%.

Analyst Ratings Changes

A number of research firms have issued reports on RTX. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Wells Fargo & Company upped their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Susquehanna lifted their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

About RTX

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.