Tennessee Valley Asset Management Partners Makes New Investment in RTX Co. (NYSE:RTX)

Tennessee Valley Asset Management Partners bought a new position in RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 446 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strengthening Families & Communities LLC purchased a new stake in shares of RTX during the 3rd quarter valued at $28,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the 4th quarter valued at $30,000. Financial Gravity Asset Management Inc. raised its position in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares in the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in shares of RTX during the 3rd quarter valued at $35,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Trading Down 0.2 %

Shares of RTX opened at $101.34 on Wednesday. The firm’s 50-day moving average price is $94.97 and its 200-day moving average price is $87.12. The firm has a market capitalization of $134.75 billion, a price-to-earnings ratio of 45.24, a PEG ratio of 1.85 and a beta of 0.88. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 EPS. Sell-side analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is 105.36%.

Analyst Ratings Changes

Several analysts have recently weighed in on RTX shares. Barclays raised their price objective on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Robert W. Baird increased their target price on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. UBS Group increased their target price on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 target price on shares of RTX in a report on Monday, April 1st. Finally, Royal Bank of Canada increased their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.40.

Insider Activity

In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock valued at $3,448,188. Corporate insiders own 0.13% of the company’s stock.

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.