Obermeyer Wood Investment Counsel Lllp Boosts Holdings in RTX Co. (NYSE:RTX)

Obermeyer Wood Investment Counsel Lllp lifted its holdings in shares of RTX Co. (NYSE:RTX) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 288,233 shares of the company’s stock after purchasing an additional 852 shares during the quarter. RTX comprises approximately 1.7% of Obermeyer Wood Investment Counsel Lllp’s investment portfolio, making the stock its 20th biggest position. Obermeyer Wood Investment Counsel Lllp’s holdings in RTX were worth $28,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alpha Omega Wealth Management LLC boosted its holdings in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the period. Motco raised its stake in RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after acquiring an additional 99 shares in the last quarter. Enterprise Bank & Trust Co lifted its holdings in RTX by 2.9% during the 2nd quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock valued at $356,000 after purchasing an additional 100 shares during the last quarter. Werlinich Asset Management LLC boosted its position in RTX by 0.4% in the second quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock valued at $2,698,000 after buying an additional 100 shares in the last quarter. Finally, Founders Capital Management LLC grew its stake in RTX by 1.2% during the second quarter. Founders Capital Management LLC now owns 8,369 shares of the company’s stock worth $840,000 after buying an additional 100 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RTX. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Robert W. Baird raised their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. TD Cowen lifted their price target on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $153.47.

RTX Stock Up 0.9 %

NYSE:RTX traded up $1.05 on Friday, hitting $123.34. 6,371,993 shares of the company’s stock were exchanged, compared to its average volume of 5,312,287. The company has a market cap of $164.07 billion, a P/E ratio of 48.37, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The firm has a 50-day moving average price of $110.19 and a 200-day moving average price of $103.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during 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 business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. As a group, analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s dividend payout ratio is 98.82%.

Insider Activity

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

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.