Beacon Pointe Advisors LLC Purchases 8,430 Shares of RTX Co. (NYSE:RTX)

Beacon Pointe Advisors LLC raised its position in RTX Co. (NYSE:RTX) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 184,179 shares of the company’s stock after purchasing an additional 8,430 shares during the period. Beacon Pointe Advisors LLC’s holdings in RTX were worth $21,313,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after buying an additional 1,000,722 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after purchasing an additional 576,214 shares during the period. Franklin Resources Inc. increased its stake in shares of RTX by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after buying an additional 603,159 shares during the period. Finally, Norges Bank bought a new position in RTX during the fourth quarter worth $1,745,644,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on RTX shares. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Citigroup decreased their target price on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, RTX presently has a consensus rating of “Buy” and a consensus price target of $161.38.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last ninety days. Insiders own 0.15% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $125.43 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market cap of $167.46 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.11 and a beta of 0.58. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The stock’s 50 day simple moving average is $128.31 and its two-hundred day simple moving average is $123.75.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 73.90%.

RTX Company 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.