Baker Ellis Asset Management LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Baker Ellis Asset Management LLC boosted its position in shares of RTX Co. (NYSE:RTX) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,028 shares of the company’s stock after purchasing an additional 1,908 shares during the period. Baker Ellis Asset Management LLC’s holdings in RTX were worth $5,562,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in RTX during the fourth quarter worth about $25,000. Planned Solutions Inc. purchased a new position in RTX during the fourth quarter worth about $30,000. Alaska Permanent Fund Corp purchased a new position in RTX during the first quarter worth about $42,000. Financial Gravity Asset Management Inc. raised its stake in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of RTX in the 4th quarter worth approximately $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now 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 can be accessed through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,937 shares of company stock valued at $12,256,952. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several recent analyst reports. Barclays upped their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Bank of America upped their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird upped their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.33.

RTX Stock Down 0.2 %

Shares of NYSE RTX traded down $0.23 during mid-day trading on Friday, reaching $100.39. The company had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $104.42 and a two-hundred day simple moving average of $95.47. The stock 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. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65.

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 the consensus estimate of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $1.22 EPS. Sell-side analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is currently 98.82%.

RTX Company 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.