Cahaba Wealth Management Inc. Acquires 340 Shares of RTX Co. (NYSE:RTX)

Cahaba Wealth Management Inc. increased its position in RTX Co. (NYSE:RTX) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,347 shares of the company’s stock after buying an additional 340 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in RTX were worth $648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RTX. Briaud Financial Planning Inc lifted its position in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the 2nd quarter worth approximately $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in RTX in the 1st quarter worth approximately $42,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company decreased their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Melius Research lifted their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $162.50.

Insiders Place Their Bets

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last three months. 0.13% of the stock is owned by company insiders.

RTX Price Performance

Shares of RTX stock traded up $0.17 on Friday, reaching $125.92. The company’s stock had a trading volume of 4,356,338 shares, compared to its average volume of 6,796,400. The stock’s fifty day simple moving average is $120.91 and its 200-day simple moving average is $110.38. RTX Co. has a 1 year low of $72.48 and a 1 year high of $127.00. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $167.41 billion, a price-to-earnings ratio of 49.38, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last posted its 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. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the firm posted $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 98.82%.

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.