AMI Investment Management Inc. Increases Stake in RTX Co. (NYSE:RTX)

AMI Investment Management Inc. increased its position in shares of RTX Co. (NYSE:RTX) by 2.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,421 shares of the company’s stock after purchasing an additional 982 shares during the period. RTX makes up about 1.4% of AMI Investment Management Inc.’s portfolio, making the stock its 25th biggest position. AMI Investment Management Inc.’s holdings in RTX were worth $3,747,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RTX. Bear Mountain Capital Inc. bought a new stake in RTX during the fourth quarter valued at about $25,000. Planned Solutions Inc. bought a new stake in RTX during the fourth quarter valued at about $30,000. Alaska Permanent Fund Corp bought a new stake in RTX during the first quarter valued at about $42,000. Financial Gravity Asset Management Inc. boosted its position in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in RTX during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. UBS Group raised their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America raised their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company raised their price objective on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus price target of $98.33.

Insiders Place Their Bets

In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were 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 of the company’s stock, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,937 shares of company stock worth $12,256,952. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX stock traded down $0.23 during midday trading on Friday, hitting $100.39. 13,853,219 shares of the stock traded hands, compared to its average volume of 6,408,701. The stock’s fifty day simple moving average is $104.42 and its 200-day simple moving average is $95.57. The firm has a market cap of $133.47 billion, a P/E ratio of 39.37, a PEG ratio of 1.76 and a beta of 0.83. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. 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 (NYSE:RTX) last posted 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. The firm had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $1.22 EPS. On average, analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%. 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.