RTX Co. (NYSE:RTX) Shares Acquired by Engine Capital Management LP

Engine Capital Management LP raised its holdings in RTX Co. (NYSE:RTX) by 8.6% during the fourth quarter, HoldingsChannel reports. The firm owned 766,900 shares of the company’s stock after acquiring an additional 60,576 shares during the quarter. RTX accounts for 10.6% of Engine Capital Management LP’s holdings, making the stock its largest position. Engine Capital Management LP’s holdings in RTX were worth $64,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RTX. Bear Mountain Capital Inc. bought a new stake in shares of RTX during the fourth quarter worth $25,000. Planned Solutions Inc. acquired a new stake in shares of RTX during the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. grew its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new position in RTX in the 4th quarter valued at approximately $38,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 over the last three months. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Citigroup boosted their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Bank of America upped their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. UBS Group raised their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $98.33.

RTX Price Performance

NYSE:RTX traded down $0.07 during mid-day trading on Friday, hitting $108.11. 3,526,533 shares of the stock traded hands, compared to its average volume of 5,299,565. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a market cap of $143.73 billion, a PE ratio of 42.40, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83. The business’s 50-day moving average price is $103.30 and its 200 day moving average price is $93.27.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 earnings per share. On average, analysts expect that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

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.