AMI Investment Management Inc. Purchases 1,721 Shares of RTX Co. (NYSE:RTX)

AMI Investment Management Inc. grew its position in shares of RTX Co. (NYSE:RTX) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,439 shares of the company’s stock after acquiring an additional 1,721 shares during the quarter. RTX comprises approximately 1.3% of AMI Investment Management Inc.’s holdings, making the stock its 28th largest holding. AMI Investment Management Inc.’s holdings in RTX were worth $3,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Cantor Fitzgerald Investment Advisor L.P increased its stake in RTX by 94.5% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock worth $31,918,000 after purchasing an additional 156,550 shares during the period. Parkside Financial Bank & Trust boosted its holdings in RTX by 9.2% in the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock worth $1,091,000 after acquiring an additional 931 shares in the last quarter. Ironwood Wealth Management LLC. boosted its holdings in RTX by 1.2% in the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after acquiring an additional 128 shares in the last quarter. LSV Asset Management lifted its holdings in shares of RTX by 1.4% during the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock worth $14,038,000 after purchasing an additional 2,000 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of RTX by 26.2% during the first quarter. NewEdge Advisors LLC now owns 109,524 shares of the company’s stock worth $10,851,000 after purchasing an additional 22,718 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 0.1 %

RTX opened at $97.56 on Friday. RTX Co. has a 12 month low of $68.56 and a 12 month high of $104.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The stock has a market cap of $129.72 billion, a P/E ratio of 43.55, a P/E/G ratio of 1.78 and a beta of 0.87. The stock’s 50 day moving average price is $91.41 and its 200 day moving average price is $83.52.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $1.27 EPS. As a group, research analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. RTX’s dividend payout ratio is 105.36%.

Analyst Ratings Changes

RTX has been the subject of several research analyst reports. UBS Group upped their target price on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Wells Fargo & Company raised RTX from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $100.00 to $120.00 in a research note on Thursday, March 14th. TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and raised their target price for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $95.12.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,785 shares of company stock worth $3,448,188. Corporate 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.