Canal Capital Management LLC Raises Holdings in RTX Co. (NYSE:RTX)

Canal Capital Management LLC boosted its stake in shares of RTX Co. (NYSE:RTX) by 2.1% in the third quarter, Holdings Channel reports. The institutional investor owned 4,253 shares of the company’s stock after acquiring an additional 87 shares during the period. Canal Capital Management LLC’s holdings in RTX were worth $515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors boosted its position in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares in the last quarter. Legal & General Group Plc raised its stake in shares of RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after acquiring an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after acquiring an additional 408,551 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,856 shares of company stock worth $17,131,253 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Up 0.3 %

NYSE:RTX opened at $125.50 on Friday. The stock’s 50 day moving average price is $121.59 and its 200 day moving average price is $111.12. The company has a market capitalization of $166.85 billion, a PE ratio of 49.09, a P/E/G ratio of 2.21 and a beta of 0.82. RTX Co. has a 52-week low of $77.76 and a 52-week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The company had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, research analysts anticipate that RTX Co. will post 5.5 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 98.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RTX shares. UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday. Melius Research increased their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company lowered their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and an average price target of $168.56.

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.