Kovack Advisors Inc. Acquires 11,483 Shares of RTX Co. (NYSE:RTX)

Kovack Advisors Inc. grew its holdings in shares of RTX Co. (NYSE:RTX) by 40.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,688 shares of the company’s stock after buying an additional 11,483 shares during the quarter. Kovack Advisors Inc.’s holdings in RTX were worth $3,339,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RTX. Boston Partners bought a new position in shares of RTX during the third quarter valued at approximately $355,350,000. Massachusetts Financial Services Co. MA grew its stake in RTX by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after purchasing an additional 1,914,184 shares in the last quarter. Van ECK Associates Corp grew its stake in RTX by 8,331.0% in the third quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock worth $127,120,000 after purchasing an additional 1,745,344 shares in the last quarter. Sanders Capital LLC grew its stake in RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in RTX by 12,753.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after purchasing an additional 1,389,143 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on RTX shares. UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday. Finally, Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $96.27.

RTX Price Performance

Shares of NYSE:RTX traded down $0.31 during trading on Friday, reaching $101.40. 4,428,266 shares of the company’s stock traded hands, compared to its average volume of 8,184,741. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $134.81 billion, a PE ratio of 39.76, a P/E/G ratio of 1.84 and a beta of 0.88. The company has a 50-day simple moving average of $95.57 and a 200-day simple moving average of $87.51.

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

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now directly owns 49,894 shares in the company, valued at $4,608,209.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,785 shares of company stock worth $3,448,188. Insiders own 0.13% of the company’s stock.

About RTX

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.