RTX Co. (NYSE:RTX) Shares Acquired by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. boosted its stake in shares of RTX Co. (NYSE:RTX) by 4.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,266 shares of the company’s stock after purchasing an additional 94 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in RTX were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Capital Group California Inc. lifted its holdings in shares of RTX by 11.3% in the third quarter. Legacy Capital Group California Inc. now owns 7,683 shares of the company’s stock valued at $931,000 after purchasing an additional 778 shares in the last quarter. Dakota Wealth Management increased its stake in RTX by 1.3% during the 3rd quarter. Dakota Wealth Management now owns 32,410 shares of the company’s stock worth $3,927,000 after buying an additional 430 shares during the period. Assenagon Asset Management S.A. increased its stake in RTX by 18.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 383,950 shares of the company’s stock worth $46,519,000 after buying an additional 60,393 shares during the period. Walker Asset Management LLC acquired a new position in RTX during the 3rd quarter worth $228,000. Finally, Pinnacle West Asset Management Inc. grew its holdings in RTX by 4.7% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 3,005 shares of the company’s stock worth $364,000 after acquiring an additional 135 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,856 shares of company stock worth $17,131,253. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of several research reports. Robert W. Baird lifted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Wells Fargo & Company cut their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday. UBS Group boosted their target price on shares of RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $168.56.

RTX Stock Down 1.6 %

RTX opened at $125.18 on Friday. RTX Co. has a twelve month low of $77.76 and a twelve month high of $128.70. The firm’s 50-day simple moving average is $121.59 and its 200-day simple moving average is $111.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market cap of $166.52 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion for the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Equities research analysts anticipate that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. RTX’s dividend payout ratio is 72.00%.

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.