EdgeRock Capital LLC Raises Position in RTX Co. (NYSE:RTX)

EdgeRock Capital LLC boosted its stake in RTX Co. (NYSE:RTX) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,149 shares of the company’s stock after buying an additional 136 shares during the quarter. RTX makes up approximately 0.7% of EdgeRock Capital LLC’s portfolio, making the stock its 24th largest holding. EdgeRock Capital LLC’s holdings in RTX were worth $947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MV Capital Management Inc. lifted its stake in RTX by 20.3% in the 1st quarter. MV Capital Management Inc. now owns 6,373 shares of the company’s stock worth $844,000 after purchasing an additional 1,075 shares in the last quarter. Franklin Street Advisors Inc. NC lifted its stake in RTX by 3.9% in the 1st quarter. Franklin Street Advisors Inc. NC now owns 199,231 shares of the company’s stock worth $26,390,000 after purchasing an additional 7,488 shares in the last quarter. Trueblood Wealth Management LLC purchased a new position in RTX in the 1st quarter worth approximately $219,000. Sanibel Captiva Trust Company Inc. raised its position in shares of RTX by 1.5% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 126,524 shares of the company’s stock valued at $16,759,000 after buying an additional 1,818 shares during the period. Finally, MADDEN SECURITIES Corp acquired a new position in RTX in the first quarter valued at approximately $225,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

RTX Trading Down 1.7%

NYSE:RTX opened at $138.52 on Wednesday. The firm has a market cap of $185.06 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. The stock has a fifty day moving average price of $129.95 and a 200 day moving average price of $126.07. RTX Co. has a 12-month low of $99.07 and a 12-month high of $141.12. The company has a current ratio of 0.99, a quick ratio of 0.74 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. RTX’s dividend payout ratio (DPR) is 79.77%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RTX shares. Wells Fargo & Company raised their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Citigroup lowered their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Finally, Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.