Hobbs Group Advisors LLC Takes $112,000 Position in RTX Co. (NYSE:RTX)

Hobbs Group Advisors LLC acquired a new stake in RTX Co. (NYSE:RTX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,115 shares of the company’s stock, valued at approximately $112,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RFG Advisory LLC boosted its stake in shares of RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares during the period. TCW Group Inc. purchased a new position in shares of RTX in the 4th quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new stake in RTX during the fourth quarter worth approximately $672,000. Mather Group LLC. lifted its stake in RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,079 shares during the last quarter. Finally, AllGen Financial Advisors Inc. lifted its stake in RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after purchasing an additional 3,657 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock valued at $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX traded down $0.40 on Tuesday, hitting $117.95. The company had a trading volume of 5,710,166 shares, compared to its average volume of 6,597,525. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 52-week low of $68.56 and a 52-week high of $118.99. The business has a 50 day moving average of $107.61 and a 200 day moving average of $101.59. The company has a market cap of $156.90 billion, a PE ratio of 46.26, a PEG ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. As a group, equities analysts anticipate that RTX Co. will post 5.44 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RTX. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Tuesday, July 30th. Citigroup boosted 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. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. The Goldman Sachs Group boosted their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada upped their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $153.47.

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.