C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $350,000 in RTX Co. (NYSE:RTX)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of RTX Co. (NYSE:RTX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,890 shares of the company’s stock, valued at approximately $350,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc increased its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the second quarter valued at about $32,000. Fairman Group LLC acquired a new stake in RTX in the fourth quarter worth about $38,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RTX shares. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Susquehanna upped their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Royal Bank of Canada raised their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their price target for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $162.50.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $122.94 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a twelve month low of $72.29 and a twelve month high of $125.93. The stock has a market capitalization of $163.54 billion, a P/E ratio of 71.06, a P/E/G ratio of 2.20 and a beta of 0.82. The company has a 50 day moving average of $119.71 and a 200-day moving average of $109.20.

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

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.05%. 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.