Norris Perne & French LLP MI Buys 788 Shares of RTX Co. (NYSE:RTX)

Norris Perne & French LLP MI raised its stake in RTX Co. (NYSE:RTX) by 21.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,393 shares of the company’s stock after purchasing an additional 788 shares during the period. Norris Perne & French LLP MI’s holdings in RTX were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Capital Research Global Investors lifted its holdings in shares of RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after acquiring an additional 17,351,313 shares during the period. Capital International Investors lifted its holdings in shares of RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after acquiring an additional 11,163,222 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after acquiring an additional 6,932,011 shares during the period. Sanders Capital LLC lifted its holdings in shares of RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after acquiring an additional 677,520 shares during the period. Finally, Norges Bank bought a new position in shares of RTX during the 4th quarter worth about $690,154,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Down 0.2 %

Shares of NYSE:RTX traded down $0.23 during trading on Friday, hitting $100.39. 13,853,219 shares of the company’s stock were exchanged, compared to its average volume of 6,408,701. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The firm has a 50-day moving average price of $104.42 and a two-hundred day moving average price of $95.47. 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 $133.47 billion, a P/E ratio of 39.37, a PEG ratio of 1.77 and a beta of 0.83.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the previous year, the company earned $1.22 EPS. RTX’s revenue was up 12.1% on a year-over-year basis. Equities analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insider Buying and Selling

In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX 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 $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock valued at $12,256,952 in the last 90 days. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on RTX. UBS Group raised their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. TD Cowen increased their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Barclays increased their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Bank of America increased their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.33.

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.