Apollon Wealth Management LLC Acquires 3,500 Shares of RTX Co. (NYSE:RTX)

Apollon Wealth Management LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 6.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,266 shares of the company’s stock after purchasing an additional 3,500 shares during the quarter. Apollon Wealth Management LLC’s holdings in RTX were worth $5,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RTX. Capital Research Global Investors grew its stake in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors boosted its holdings in RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after acquiring an additional 11,163,222 shares in the last quarter. Norges Bank acquired a new stake in RTX in the fourth quarter worth about $690,154,000. Massachusetts Financial Services Co. MA boosted its holdings in RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after acquiring an additional 6,932,011 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in RTX by 129.9% in the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after acquiring an additional 2,294,908 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Royal Bank of Canada increased their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $153.47.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last quarter. 0.13% of the stock is owned by insiders.

RTX Trading Up 0.3 %

RTX stock traded up $0.40 during midday trading on Monday, hitting $118.35. 4,430,208 shares of the company’s stock were exchanged, compared to its average volume of 7,294,187. The business has a 50-day simple moving average of $107.39 and a two-hundred day simple moving average of $101.40. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $157.35 billion, a PE ratio of 46.40, a P/E/G ratio of 2.08 and a beta of 0.82. RTX Co. has a 1-year low of $68.56 and a 1-year high of $118.99.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. On average, sell-side analysts predict that RTX Co. will post 5.44 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.13%. RTX’s dividend payout ratio (DPR) is 98.82%.

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.