Douglas Lane & Associates LLC Boosts Stake in RTX Co. (NYSE:RTX)

Douglas Lane & Associates LLC lifted its stake in RTX Co. (NYSE:RTX) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,829 shares of the company’s stock after purchasing an additional 4,334 shares during the period. Douglas Lane & Associates LLC’s holdings in RTX were worth $48,322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Financial Group increased its stake in RTX by 5.0% in the 4th quarter. Beacon Financial Group now owns 9,535 shares of the company’s stock worth $802,000 after buying an additional 451 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of RTX by 2.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 9,310 shares of the company’s stock valued at $833,000 after purchasing an additional 202 shares during the last quarter. Syon Capital LLC boosted its holdings in shares of RTX by 49.9% during the 4th quarter. Syon Capital LLC now owns 9,224 shares of the company’s stock valued at $776,000 after purchasing an additional 3,072 shares during the last quarter. Creekmur Asset Management LLC bought a new position in shares of RTX during the 4th quarter valued at about $89,000. Finally, Tucker Asset Management LLC boosted its holdings in shares of RTX by 1.7% during the 4th quarter. Tucker Asset Management LLC now owns 21,579 shares of the company’s stock valued at $1,816,000 after purchasing an additional 351 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on RTX. Wells Fargo & Company dropped their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and increased their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Robert W. Baird increased their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $162.50.

RTX Trading Up 0.8 %

Shares of NYSE:RTX traded up $0.99 during trading on Friday, reaching $123.93. 2,556,167 shares of the company were exchanged, compared to its average volume of 5,653,164. The firm has a market capitalization of $164.86 billion, a PE ratio of 71.64, a P/E/G ratio of 2.18 and a beta of 0.82. The business’s fifty day simple moving average is $119.86 and its 200-day simple moving average is $109.49. RTX Co. has a 12-month low of $72.29 and a 12-month high of $125.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

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. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share. On average, research analysts anticipate that RTX Co. will post 5.46 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.03%. RTX’s dividend payout ratio (DPR) is 145.67%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 over the last three months. 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.