US Asset Management LLC Buys New Holdings in RTX Co. (NYSE:RTX)

US Asset Management LLC purchased a new position in RTX Co. (NYSE:RTX) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,851 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. bought a new position in shares of RTX in the fourth quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new position in RTX during the 3rd quarter valued at about $28,000. Planned Solutions Inc. bought a new stake in RTX during the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. raised its stake in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in shares of RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX 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 transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,618 shares of company stock worth $13,397,978. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded up $1.79 during trading on Thursday, hitting $105.73. The stock had a trading volume of 7,210,085 shares, compared to its average volume of 8,055,303. RTX Co. has a 12 month low of $68.56 and a 12 month high of $105.76. The business’s 50-day moving average is $97.48 and its 200 day moving average is $89.21. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The firm has a market cap of $140.57 billion, a price-to-earnings ratio of 40.73, a P/E/G ratio of 1.83 and a beta of 0.84.

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

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, May 16th. RTX’s payout ratio is currently 92.55%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RTX shares. Susquehanna upped their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Bank of America increased their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price target on shares of RTX in a report on Monday, April 1st. Finally, Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $96.93.

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.