US Asset Management LLC Invests $240,000 in RTX Co. (NYSE:RTX)

US Asset Management LLC purchased a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,851 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of RTX by 26.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after buying an additional 28,910 shares during the period. Mather Group LLC. increased its stake in RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,079 shares during the last quarter. Rockline Wealth Management LLC acquired a new position in RTX in the fourth quarter valued at about $2,438,000. AllGen Financial Advisors Inc. boosted its position in shares of RTX by 12.8% during the 4th quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after purchasing an additional 3,657 shares during the period. Finally, PDS Planning Inc acquired a new position in RTX during the 4th quarter worth about $356,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RTX. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Barclays raised their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada increased their target price on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Susquehanna boosted their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Finally, Citigroup increased their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.93.

Insider Buying and Selling

In other news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,618 shares of company stock worth $13,397,978. Insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock traded up $1.79 on Thursday, reaching $105.73. The company had a trading volume of 7,210,085 shares, compared to its average volume of 8,055,303. The company’s fifty day moving average is $97.48 and its 200 day moving average is $89.21. The company has a market cap of $140.57 billion, a P/E ratio of 40.73, a PEG ratio of 1.83 and a beta of 0.84. RTX Co. has a 1 year low of $68.56 and a 1 year high of $105.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts forecast that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. This is a boost from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, May 16th. RTX’s dividend payout ratio is 92.55%.

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.