Panoramic Capital Partners LLC Invests $264,000 in RTX Co. (NYSE:RTX)

Panoramic Capital Partners LLC acquired a new stake in shares of RTX Co. (NYSE:RTX) in the first quarter, HoldingsChannel reports. The institutional investor acquired 2,191 shares of the company’s stock, valued at approximately $264,000.

A number of other large investors have also added to or reduced their stakes in the stock. 10Elms LLP bought a new position in shares of RTX during the fourth quarter valued at $29,000. Fairway Wealth LLC purchased a new stake in RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management increased its stake in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in RTX in the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX opened at $139.21 on Monday. The company’s 50 day moving average is $129.63 and its 200 day moving average is $125.84. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $185.98 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.11 and a beta of 0.63. RTX Co. has a 12-month low of $99.07 and a 12-month high of $140.65.

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 the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. On average, equities research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.95%. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is 79.77%.

Insider Transactions at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the subject of several analyst reports. Royal Bank of Canada reduced their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Argus raised RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Susquehanna lowered their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Finally, Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Three equities research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $159.82.

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.