Courier Capital LLC Makes New $7.24 Million Investment in RTX Co. (NYSE:RTX)

Courier Capital LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 59,777 shares of the company’s stock, valued at approximately $7,243,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TFG Advisers LLC lifted its position in RTX by 3.7% during the 3rd quarter. TFG Advisers LLC now owns 4,392 shares of the company’s stock worth $532,000 after acquiring an additional 157 shares during the period. Greenleaf Trust lifted its position in RTX by 1.0% during the 3rd quarter. Greenleaf Trust now owns 82,486 shares of the company’s stock worth $9,994,000 after acquiring an additional 791 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in RTX during the 3rd quarter worth about $240,000. Marietta Wealth Management LLC lifted its position in RTX by 2.6% during the 3rd quarter. Marietta Wealth Management LLC now owns 67,239 shares of the company’s stock worth $8,147,000 after acquiring an additional 1,679 shares during the period. Finally, Liberty Capital Management Inc. lifted its position in RTX by 0.3% during the 3rd quarter. Liberty Capital Management Inc. now owns 34,120 shares of the company’s stock worth $4,134,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of research reports. UBS Group lifted their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company decreased their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $167.63.

RTX Price Performance

NYSE:RTX traded up $1.12 during trading hours on Wednesday, hitting $126.65. 1,316,419 shares of the stock were exchanged, compared to its average volume of 6,754,657. RTX Co. has a 52-week low of $76.96 and a 52-week high of $128.70. The firm’s fifty day moving average price is $121.27 and its 200 day moving average price is $110.91. 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 company has a market cap of $168.38 billion, a P/E ratio of 49.67, a P/E/G ratio of 2.24 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. As a group, equities research analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.99%. RTX’s payout ratio is 98.82%.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Gregory Hayes sold 134,887 shares of the 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 sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on 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 owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

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.