Financial Council LLC Takes $208,000 Position in RTX Co. (NYSE:RTX)

Financial Council LLC acquired a new stake in RTX Co. (NYSE:RTX) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,130 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds also recently modified their holdings of RTX. Bear Mountain Capital Inc. bought a new stake in RTX during the 4th quarter valued at $25,000. Planned Solutions Inc. bought a new stake in RTX during the 4th quarter valued at $30,000. Alaska Permanent Fund Corp bought a new stake in RTX during the 1st quarter valued at $42,000. Financial Gravity Asset Management Inc. increased its stake in 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 purchasing an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in RTX during the 4th quarter valued at $38,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Gregory Hayes sold 89,762 shares of the 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 sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, 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. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 over the last three months. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on RTX. Robert W. Baird boosted their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. TD Cowen lifted their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Barclays lifted their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Bank of America lifted their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Susquehanna lifted their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.33.

RTX Stock Performance

Shares of NYSE:RTX traded up $1.06 during midday trading on Thursday, reaching $101.74. The company had a trading volume of 7,592,411 shares, compared to its average volume of 7,509,102. The stock has a market cap of $135.26 billion, a P/E ratio of 39.90, a P/E/G ratio of 1.76 and a beta of 0.82. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average price is $104.24 and its 200 day moving average price is $96.64.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 earnings per share. As a group, sell-side analysts anticipate that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.