Private Management Group Inc. Takes $212,000 Position in RTX Corporation (NYSE:RTX)

Private Management Group Inc. acquired a new stake in RTX Corporation (NYSE:RTX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,603 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also made changes to their positions in the business. Bay Capital Advisors LLC acquired a new position in shares of RTX in the 1st quarter valued at $224,000. Dynamic Advisor Solutions LLC lifted its stake in shares of RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock valued at $4,591,000 after purchasing an additional 2,686 shares during the period. Deutsche Bank AG lifted its stake in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after purchasing an additional 936,953 shares during the period. LBP AM SA lifted its stake in shares of RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company’s stock valued at $36,980,000 after purchasing an additional 41,990 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock valued at $51,741,000 after purchasing an additional 5,356 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of NYSE RTX opened at $156.86 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $157.33. The firm has a 50-day simple moving average of $143.48 and a 200-day simple moving average of $132.81. The stock has a market capitalization of $209.96 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the previous year, the business posted $1.41 EPS. RTX’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX’s dividend payout ratio (DPR) is 59.78%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RTX. Benchmark upgraded shares of 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. Citigroup boosted their target price on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the stock a “market perform” rating in a research report on Friday, July 11th. Morgan Stanley upped their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.88.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,530 shares of company stock valued at $3,080,191 in the last 90 days. Company insiders own 0.15% of the company’s stock.

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.