Stanley Laman Group Ltd. Acquires 2,612 Shares of RTX Co. (NYSE:RTX)

Stanley Laman Group Ltd. boosted its stake in RTX Co. (NYSE:RTX) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 78,687 shares of the company’s stock after buying an additional 2,612 shares during the period. RTX accounts for approximately 1.1% of Stanley Laman Group Ltd.’s holdings, making the stock its 11th largest position. Stanley Laman Group Ltd.’s holdings in RTX were worth $7,899,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Capital Research Global Investors boosted its position in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after buying an additional 17,351,313 shares in the last quarter. Capital International Investors grew its position in RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after acquiring an additional 11,163,222 shares during the last quarter. Norges Bank acquired a new stake in RTX during the 4th quarter valued at $690,154,000. Massachusetts Financial Services Co. MA raised its position in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in RTX by 129.9% in the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after purchasing an additional 2,294,908 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RTX shares. Barclays raised their price objective on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. UBS Group upped their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Royal Bank of Canada upped their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lowered their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $153.47.

RTX Trading Up 0.2 %

Shares of RTX traded up $0.22 during trading hours on Friday, reaching $117.95. The stock had a trading volume of 5,251,477 shares, compared to its average volume of 7,306,247. The company has a market cap of $156.82 billion, a P/E ratio of 46.25, a P/E/G ratio of 2.08 and a beta of 0.82. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.99. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $107.39 and a 200 day moving average of $101.26.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the firm earned $1.29 EPS. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that RTX Co. will post 5.44 earnings per share 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 2.14%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is presently 98.82%.

Insiders Place Their Bets

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% 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.