RTX Co. (NYSE:RTX) Shares Acquired by Saratoga Research & Investment Management

Saratoga Research & Investment Management increased its stake in RTX Co. (NYSE:RTX) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,701,179 shares of the company’s stock after purchasing an additional 47,682 shares during the quarter. RTX comprises about 7.5% of Saratoga Research & Investment Management’s portfolio, making the stock its biggest holding. Saratoga Research & Investment Management owned 0.13% of RTX worth $165,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Capital Research Global Investors raised its holdings in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after buying an additional 17,351,313 shares during the period. Capital International Investors raised its holdings 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 buying an additional 11,163,222 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the period. Sanders Capital LLC raised its holdings in RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after buying an additional 677,520 shares during the period. Finally, Norges Bank acquired a new stake in RTX during the 4th quarter worth about $690,154,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock traded down $0.23 during trading hours on Friday, reaching $100.39. 13,853,219 shares of the company were exchanged, compared to its average volume of 6,408,701. The firm has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 1.77 and a beta of 0.83. 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 stock has a 50-day moving average of $104.42 and a 200 day moving average of $95.47. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during 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 revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. As a group, research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.51%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird upped their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.33.

Insider Transactions at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 over the last three months. 0.13% of the stock is currently owned by insiders.

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.