Catalina Capital Group LLC Buys New Position in RTX Co. (NYSE:RTX)

Catalina Capital Group LLC bought a new stake in shares of RTX Co. (NYSE:RTX) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 4,150 shares of the company’s stock, valued at approximately $405,000.

Several other hedge funds have also modified their holdings of the stock. Capital Research Global Investors grew its stake in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares in the last quarter. Capital International Investors grew its stake in RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 valued at $1,288,157,000 after purchasing an additional 6,932,011 shares in the last quarter. Sanders Capital LLC grew its stake in RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after purchasing an additional 677,520 shares in the last quarter. Finally, Norges Bank acquired a new stake in RTX during the 4th quarter valued at approximately $690,154,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a document filed with the SEC, which is available at 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 sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,937 shares of company stock valued at $12,256,952. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Citigroup lifted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna lifted their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. UBS Group lifted their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $98.33.

RTX Stock Performance

RTX stock traded down $0.46 during mid-day trading on Wednesday, hitting $100.65. 6,483,106 shares of the company’s stock traded hands, compared to its average volume of 7,508,432. The firm has a 50 day moving average price of $104.24 and a 200 day moving average price of $96.60. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a market cap of $133.81 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. RTX Co. has a one year low of $68.56 and a one year high of $108.65.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. On average, equities analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders 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 dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is presently 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.