Potentia Wealth Invests $976,000 in RTX Co. (NYSE:RTX)

Potentia Wealth purchased a new position in shares of RTX Co. (NYSE:RTX) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,430 shares of the company’s stock, valued at approximately $976,000.

Several other institutional investors have also recently bought and sold shares of RTX. Eagle Asset Management Inc. raised its stake in shares of RTX by 6.4% in the third quarter. Eagle Asset Management Inc. now owns 63,507 shares of the company’s stock worth $7,846,000 after purchasing an additional 3,818 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of RTX by 124.7% in the third quarter. Larson Financial Group LLC now owns 9,364 shares of the company’s stock worth $1,134,000 after purchasing an additional 5,196 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of RTX by 9.3% during the third quarter. Daiwa Securities Group Inc. now owns 162,308 shares of the company’s stock worth $19,665,000 after purchasing an additional 13,800 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of RTX by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after buying an additional 852,183 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its holdings in shares of RTX by 4.2% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 6,277 shares of the company’s stock worth $761,000 after purchasing an additional 255 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Susquehanna upped their price target on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Up 1.8 %

Shares of RTX opened at $134.76 on Tuesday. RTX Co. has a 12-month low of $95.27 and a 12-month high of $135.74. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $127.48 and its 200 day moving average price is $122.66. The firm has a market cap of $179.92 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last released its 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 return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.87%. RTX’s payout ratio is 70.99%.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were 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 of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company’s stock.

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.