Lake Street Advisors Group LLC Buys 3,951 Shares of RTX Co. (NYSE:RTX)

Lake Street Advisors Group LLC boosted its stake in RTX Co. (NYSE:RTX) by 59.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,624 shares of the company’s stock after purchasing an additional 3,951 shares during the period. Lake Street Advisors Group LLC’s holdings in RTX were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. acquired a new position in RTX in the 4th quarter worth about $25,000. Planned Solutions Inc. bought a new position in RTX in the 4th quarter valued at approximately $30,000. Tennessee Valley Asset Management Partners bought a new stake in RTX during the 4th quarter worth approximately $38,000. Fairman Group LLC acquired a new position in RTX in the 4th quarter valued at approximately $38,000. Finally, Beaird Harris Wealth Management LLC raised its stake in shares of RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.1 %

NYSE RTX traded down $0.15 during mid-day trading on Wednesday, hitting $104.82. The company’s stock had a trading volume of 7,177,829 shares, compared to its average volume of 7,399,999. The firm has a market capitalization of $139.36 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 1.85 and a beta of 0.82. The company’s 50 day simple moving average is $104.09 and its 200 day simple moving average is $97.92. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period last year, the firm earned $1.22 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that RTX Co. will post 5.4 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.40%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Insiders Place Their Bets

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of the business’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 sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock valued at $12,256,952. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RTX. Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Wells Fargo & Company dropped their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.38.

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.