RTX Co. (NYSE:RTX) Shares Acquired by Smith Salley Wealth Management

Smith Salley Wealth Management boosted its stake in RTX Co. (NYSE:RTX) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,210 shares of the company’s stock after acquiring an additional 5,553 shares during the period. RTX accounts for about 1.5% of Smith Salley Wealth Management’s holdings, making the stock its 18th biggest position. Smith Salley Wealth Management’s holdings in RTX were worth $23,288,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors boosted its holdings in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after acquiring an additional 213,331 shares during the period. Legal & General Group Plc raised its holdings in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock opened at $125.16 on Friday. The stock’s 50 day moving average price is $121.74 and its 200 day moving average price is $111.35. The firm has a market cap of $166.40 billion, a P/E ratio of 49.08, a PEG ratio of 2.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 1 year low of $77.76 and a 1 year high of $128.70.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for 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 business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 earnings per share. On average, sell-side analysts expect that RTX Co. will post 5.5 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RTX shares. TD Cowen upgraded RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Morgan Stanley boosted their target price on shares of RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and upped their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Robert W. Baird raised their price objective on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $168.56.

Insider Activity

In related news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s 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 completion of 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 legal filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,856 shares of company stock valued at $17,131,253 over the last 90 days. Insiders own 0.13% 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.