RTX Co. (NYSE:RTX) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its position in shares of RTX Co. (NYSE:RTX) by 1.7% during the 1st quarter, Holdings Channel reports. The firm owned 221,298 shares of the company’s stock after buying an additional 3,767 shares during the quarter. RTX comprises 0.9% of NorthCrest Asset Manangement LLC’s portfolio, making the stock its 26th largest holding. NorthCrest Asset Manangement LLC’s holdings in RTX were worth $29,313,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. LaFleur & Godfrey LLC boosted its position in RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock worth $20,620,000 after purchasing an additional 900 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC grew its position in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after acquiring an additional 159 shares during the period. Certuity LLC grew its position in RTX by 21.5% in the fourth quarter. Certuity LLC now owns 4,747 shares of the company’s stock worth $549,000 after acquiring an additional 839 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in RTX by 6.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company’s stock worth $65,278,000 after acquiring an additional 32,024 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RTX shares. Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada lowered their price target on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Finally, Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of “Buy” and a consensus price target of $159.82.

RTX Stock Performance

Shares of RTX stock opened at $140.92 on Friday. The stock has a market capitalization of $188.26 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. RTX Co. has a 52-week low of $99.07 and a 52-week high of $149.94. The stock’s 50-day moving average price is $130.91 and its 200 day moving average price is $126.33. 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 issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for 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, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

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.