Brooklyn FI LLC Makes New Investment in RTX Co. (NYSE:RTX)

Brooklyn FI LLC acquired a new position in RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,416 shares of the company’s stock, valued at approximately $533,000.

Other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. grew its position in RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after purchasing an additional 79 shares during the last quarter. Fusion Capital LLC grew its position in RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares during the last quarter. McDonough Capital Management Inc grew its position in RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after purchasing an additional 80 shares during the last quarter. New England Professional Planning Group Inc. grew its position in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC grew its position in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Susquehanna lowered their price objective 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. Bank of America raised their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $159.82.

Insiders Place Their Bets

In other RTX news, 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 transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated 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 owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. The trade was a 25.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,643 shares of company stock worth $6,198,889. Insiders own 0.15% of the company’s stock.

RTX Stock Down 1.3%

Shares of NYSE RTX opened at $132.38 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $176.85 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The firm has a 50-day moving average price of $129.07 and a 200 day moving average price of $124.83. RTX Co. has a 52 week low of $99.07 and a 52 week high of $138.82.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 5.91% and a return on equity of 12.45%. Equities research analysts anticipate 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. Shareholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 2.05%. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is presently 79.77%.

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.