RTX Co. (NYSE:RTX) Shares Acquired by Earnest Partners LLC

Earnest Partners LLC boosted its stake in RTX Co. (NYSE:RTX) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,054 shares of the company’s stock after purchasing an additional 225 shares during the period. Earnest Partners LLC’s holdings in RTX were worth $786,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RTX. Motco boosted its holdings in RTX by 7.2% in the 1st quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after acquiring an additional 99 shares during the period. Gold Investment Management Ltd. boosted its stake in shares of RTX by 3.5% in the first quarter. Gold Investment Management Ltd. now owns 3,045 shares of the company’s stock valued at $297,000 after purchasing an additional 103 shares during the period. Insight Inv LLC boosted its stake in shares of RTX by 0.6% in the first quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock valued at $1,687,000 after purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares during the period. Finally, Jacobsen Capital Management boosted its stake in shares of RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after purchasing an additional 114 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were 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 SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RTX shares. The Goldman Sachs Group upped their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday. TD Cowen increased their price objective on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday. Bank of America increased 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. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $151.71.

RTX Price Performance

Shares of NYSE:RTX traded up $0.87 during trading hours on Tuesday, hitting $115.31. 1,529,699 shares of the company’s stock traded hands, compared to its average volume of 7,390,483. RTX Co. has a 52 week low of $68.56 and a 52 week high of $116.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The company’s fifty day simple moving average is $104.65 and its two-hundred day simple moving average is $98.60. The company has a market cap of $153.39 billion, a price-to-earnings ratio of 44.88, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that RTX Co. will post 5.42 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 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.