Legacy Capital Group California Inc. Acquires 778 Shares of RTX Co. (NYSE:RTX)

Legacy Capital Group California Inc. increased its holdings in shares of RTX Co. (NYSE:RTX) by 11.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,683 shares of the company’s stock after acquiring an additional 778 shares during the quarter. Legacy Capital Group California Inc.’s holdings in RTX were worth $931,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RTX. Briaud Financial Planning Inc grew its stake in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the second quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new position in shares of RTX in the second quarter valued at about $41,000. Finally, Stephens Consulting LLC grew its position in shares of RTX by 34.1% during the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RTX. JPMorgan Chase & Co. raised their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Susquehanna upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday. Finally, Melius Research increased their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $168.56.

RTX Stock Performance

Shares of RTX stock opened at $125.18 on Friday. The stock has a market capitalization of $166.52 billion, a PE ratio of 35.77, a PEG ratio of 2.21 and a beta of 0.82. RTX Co. has a one year low of $77.76 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business’s 50 day simple moving average is $121.59 and its 200 day simple moving average is $111.12.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, research analysts forecast that RTX Co. will post 5.5 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,856 shares of company stock worth $17,131,253. 0.13% of the stock is currently 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.