First Trust Direct Indexing L.P. Raises Stake in RTX Co. (NYSE:RTX)

First Trust Direct Indexing L.P. grew its stake in shares of RTX Co. (NYSE:RTX) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,108 shares of the company’s stock after buying an additional 2,639 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in RTX were worth $2,365,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in RTX. Boston Partners bought a new position in shares of RTX during the third quarter valued at $355,350,000. Van ECK Associates Corp increased its position in shares of RTX by 129.9% during the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after purchasing an additional 2,294,908 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of RTX by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after purchasing an additional 1,914,184 shares during the period. Sanders Capital LLC increased its stake in shares of RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after buying an additional 1,389,143 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RTX. Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Susquehanna increased their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 target price on shares of RTX in a report on Monday, April 1st. Royal Bank of Canada upped their target price on shares of RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Finally, TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and an average target price of $96.93.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is owned by company insiders.

RTX Price Performance

Shares of RTX stock traded up $0.24 during trading hours on Thursday, hitting $101.46. 628,623 shares of the company’s stock were exchanged, compared to its average volume of 8,037,688. The firm has a 50 day moving average of $96.01 and a two-hundred day moving average of $88.12. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The firm has a market cap of $134.89 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.83 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Sell-side analysts forecast that RTX Co. will post 5.4 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. RTX’s payout ratio is 92.55%.

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.