Vivaldi Capital Management LP Makes New Investment in RTX Co. (NYSE:RTX)

Vivaldi Capital Management LP bought a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,392 shares of the company’s stock, valued at approximately $424,000.

Several other institutional investors also recently made changes to their positions in RTX. CX Institutional grew its stake in RTX by 21.9% in the 4th quarter. CX Institutional now owns 65,150 shares of the company’s stock valued at $7,539,000 after acquiring an additional 11,706 shares during the last quarter. National Pension Service grew its stake in RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock valued at $330,910,000 after acquiring an additional 375,781 shares during the last quarter. Deutsche Bank AG grew its stake in RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after acquiring an additional 936,953 shares during the last quarter. Archer Investment Corp grew its stake in RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after acquiring an additional 4,151 shares during the last quarter. Finally, Optas LLC lifted its holdings in RTX by 114.5% in the 4th quarter. Optas LLC now owns 7,062 shares of the company’s stock valued at $817,000 after purchasing an additional 3,770 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the firm’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 transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,946 shares of company stock worth $9,024,856. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RTX. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and upped their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Citigroup reduced their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group upped their target price on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $159.82.

RTX Stock Up 1.2%

NYSE RTX opened at $137.16 on Tuesday. The stock has a market cap of $183.24 billion, a PE ratio of 38.64, a P/E/G ratio of 2.11 and a beta of 0.60. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $137.72. The business has a 50 day moving average price of $128.84 and a two-hundred day moving average price of $124.35. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, sell-side analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio is 79.77%.

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.