Kovack Advisors Inc. Purchases 3,566 Shares of RTX Co. (NYSE:RTX)

Kovack Advisors Inc. lifted its position in shares of RTX Co. (NYSE:RTX) by 9.0% in the first quarter, HoldingsChannel.com reports. The fund owned 43,254 shares of the company’s stock after buying an additional 3,566 shares during the period. Kovack Advisors Inc.’s holdings in RTX were worth $4,219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Wealth Management lifted its stake in RTX by 6.4% in the 1st quarter. Massachusetts Wealth Management now owns 8,349 shares of the company’s stock valued at $814,000 after purchasing an additional 500 shares during the last quarter. DMC Group LLC lifted its stake in RTX by 9.7% in the 1st quarter. DMC Group LLC now owns 9,868 shares of the company’s stock valued at $962,000 after purchasing an additional 869 shares during the last quarter. Norden Group LLC lifted its stake in RTX by 2,449.0% in the 1st quarter. Norden Group LLC now owns 395,347 shares of the company’s stock valued at $38,558,000 after purchasing an additional 379,837 shares during the last quarter. Bourgeon Capital Management LLC lifted its stake in RTX by 11.2% in the 1st quarter. Bourgeon Capital Management LLC now owns 87,795 shares of the company’s stock valued at $8,563,000 after purchasing an additional 8,870 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its stake in RTX by 44.7% in the 1st quarter. Valley National Advisers Inc. now owns 1,729 shares of the company’s stock valued at $168,000 after purchasing an additional 534 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RTX. Bank of America increased their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Barclays increased their price objective on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Citigroup increased their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird upped their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.33.

RTX Trading Up 0.3 %

Shares of RTX traded up $0.33 during trading hours on Thursday, hitting $100.74. 2,149,212 shares of the stock were exchanged, compared to its average volume of 6,524,184. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The business has a 50-day moving average of $104.35 and a 200-day moving average of $95.95. The firm has a market capitalization of $133.93 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share 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 analysts’ expectations of $18.44 billion. During the same period in the prior year, the company posted $1.22 earnings per share. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

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.