KRS Capital Management LLC Takes $462,000 Position in RTX Co. (NYSE:RTX)

KRS Capital Management LLC bought a new stake in shares of RTX Co. (NYSE:RTX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,739 shares of the company’s stock, valued at approximately $462,000.

Several other institutional investors also recently made changes to their positions in RTX. Bear Mountain Capital Inc. bought a new position in RTX in the 4th quarter worth approximately $25,000. Planned Solutions Inc. bought a new position in RTX in the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. grew its holdings in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares in the last quarter. Valley National Advisers Inc. grew its holdings in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in RTX in the 4th quarter worth approximately $38,000. 86.50% of the stock is owned by institutional investors.

Insider Transactions at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent analyst reports. TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Bank of America increased their price target on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company increased their price target on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird increased their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $98.33.

RTX Stock Down 0.2 %

NYSE RTX traded down $0.23 on Friday, reaching $100.39. The stock had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. The business has a 50 day moving average price of $104.42 and a 200 day moving average price of $95.47. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65. The company has a market capitalization of $133.47 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 1.77 and a beta of 0.83.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.51%. RTX’s dividend payout ratio (DPR) is presently 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.