Inscription Capital LLC Takes Position in RTX Co. (NYSE:RTX)

Inscription Capital LLC bought a new position in RTX Co. (NYSE:RTX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,537 shares of the company’s stock, valued at approximately $2,985,000.

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

RTX Price Performance

NYSE RTX opened at $146.43 on Tuesday. RTX Co. has a one year low of $99.07 and a one year high of $149.04. The stock has a 50-day moving average of $131.94 and a 200 day moving average of $126.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $195.62 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping 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 net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.86%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio is presently 79.77%.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’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 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. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RTX. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Citigroup dropped their price target on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, Royal Bank of Canada dropped their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Buy” and a consensus price target of $159.82.

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.