RTX Co. (NYSE:RTX) Shares Bought by Saratoga Research & Investment Management

Saratoga Research & Investment Management grew its stake in RTX Co. (NYSE:RTX) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,701,179 shares of the company’s stock after buying an additional 47,682 shares during the period. RTX accounts for about 7.5% of Saratoga Research & Investment Management’s holdings, making the stock its biggest holding. Saratoga Research & Investment Management’s holdings in RTX were worth $165,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Grimes & Company Inc. grew its stake in RTX by 3.8% during the first quarter. Grimes & Company Inc. now owns 226,544 shares of the company’s stock worth $22,095,000 after purchasing an additional 8,207 shares during the period. Griffin Asset Management Inc. grew its stake in RTX by 147.9% in the first quarter. Griffin Asset Management Inc. now owns 81,126 shares of the company’s stock valued at $7,912,000 after acquiring an additional 48,406 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in RTX by 10.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 27,827 shares of the company’s stock valued at $2,714,000 after acquiring an additional 2,636 shares during the period. Opinicus Capital Inc. grew its stake in RTX by 35.1% in the first quarter. Opinicus Capital Inc. now owns 16,867 shares of the company’s stock valued at $1,645,000 after acquiring an additional 4,379 shares during the period. Finally, Avity Investment Management Inc. grew its stake in RTX by 15.2% in the first quarter. Avity Investment Management Inc. now owns 387,243 shares of the company’s stock valued at $37,768,000 after acquiring an additional 50,987 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

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

RTX Stock Performance

Shares of RTX traded down $0.23 during mid-day trading on Friday, hitting $100.39. The stock had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. The firm has a market cap of $133.47 billion, a P/E ratio of 39.37, a PEG ratio of 1.77 and a beta of 0.83. The business has a fifty day moving average price of $104.42 and a 200-day moving average price of $95.47. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. On average, equities research analysts expect that RTX Co. will post 5.39 EPS for the current 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 given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analysts Set New Price Targets

A number of brokerages have commented on RTX. Wells Fargo & Company raised their price objective on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. UBS Group raised their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Susquehanna raised their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $98.33.

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.