Leigh Baldwin & CO. LLC Makes New $37.04 Million Investment in RTX Co. (NYSE:RTX)

Leigh Baldwin & CO. LLC bought a new stake in shares of RTX Co. (NYSE:RTX) in the 4th quarter, Holdings Channel.com reports. The firm bought 320,117 shares of the company’s stock, valued at approximately $37,044,000.

A number of other hedge funds have also recently bought and sold shares of RTX. 1620 Investment Advisors Inc. raised its holdings in shares of RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after acquiring an additional 79 shares during the period. Fusion Capital LLC raised its holdings in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after acquiring an additional 80 shares during the period. McDonough Capital Management Inc grew its stake in shares of RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after acquiring an additional 80 shares during the last quarter. New England Professional Planning Group Inc. raised its holdings in RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after acquiring an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC boosted its position in shares of RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after acquiring an additional 81 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 0.0%

Shares of RTX stock opened at $128.69 on Monday. The company has a market cap of $171.92 billion, a P/E ratio of 36.25, a PEG ratio of 2.11 and a beta of 0.60. The firm has a fifty day moving average of $128.26 and a two-hundred day moving average of $123.90. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s payout ratio is 79.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. UBS Group increased their price target on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Susquehanna lowered their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $161.06.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock valued at $9,024,856 in the last quarter. Insiders own 0.15% of the company’s stock.

About RTX

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.