Spinnaker Investment Group LLC Makes New Investment in RTX Co. (NYSE:RTX)

Spinnaker Investment Group LLC purchased a new stake in RTX Co. (NYSE:RTX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,130 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors also recently modified their holdings of the business. RFG Advisory LLC boosted its position in RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares in the last quarter. TCW Group Inc. acquired a new stake in shares of RTX during the 4th quarter valued at $1,912,000. Robinson Smith Wealth Advisors LLC bought a new stake in RTX during the 4th quarter worth $672,000. Mather Group LLC. increased its holdings in RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,079 shares in the last quarter. Finally, AllGen Financial Advisors Inc. raised its position in RTX by 12.8% in the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after purchasing an additional 3,657 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last three months. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Up 0.4 %

RTX stock traded up $0.50 during trading on Friday, reaching $118.52. 3,405,480 shares of the stock were exchanged, compared to its average volume of 7,215,377. The firm’s 50 day moving average is $108.30 and its 200 day moving average is $101.99. The firm has a market cap of $157.57 billion, a P/E ratio of 46.30, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a twelve month low of $68.56 and a twelve month high of $118.99.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts forecast that RTX Co. will post 5.44 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays boosted their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. TD Cowen upped their price target on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Robert W. Baird lifted their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Melius Research raised their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Susquehanna lifted their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $153.47.

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.