RTX Co. (NYSE:RTX) Shares Purchased by Hoey Investments Inc.

Hoey Investments Inc. boosted its stake in RTX Co. (NYSE:RTX) by 18.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,450 shares of the company’s stock after acquiring an additional 1,166 shares during the quarter. RTX comprises about 0.2% of Hoey Investments Inc.’s holdings, making the stock its 25th largest holding. Hoey Investments Inc.’s holdings in RTX were worth $987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. LaFleur & Godfrey LLC boosted its stake in shares of RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after buying an additional 900 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after buying an additional 159 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of RTX by 6.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 562,753 shares of the company’s stock valued at $65,278,000 after buying an additional 32,024 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of RTX by 9.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 540,535 shares of the company’s stock valued at $63,086,000 after buying an additional 45,051 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RTX shares. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. UBS Group raised their price objective on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a research note on Friday, April 25th. Susquehanna reduced their price objective on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $159.82.

RTX Stock Performance

RTX stock opened at $145.47 on Friday. The company has a 50-day simple moving average of $131.41 and a 200 day simple moving average of $126.50. The company has a market capitalization of $194.34 billion, a P/E ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $146.02. 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 quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value 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 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 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 owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company 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.