Red Cedar Investment Management LLC Invests $1.17 Million in RTX Co. (NYSE:RTX)

Red Cedar Investment Management LLC purchased a new position in RTX Co. (NYSE:RTX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,136 shares of the company’s stock, valued at approximately $1,173,000.

Other large investors have also recently made changes to their positions in the company. CX Institutional boosted its holdings in shares of RTX by 21.9% in the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares during the period. LRI Investments LLC boosted its holdings in shares of RTX by 6.5% in the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock worth $9,221,000 after acquiring an additional 4,732 shares during the period. Napa Wealth Management bought a new position in shares of RTX in the third quarter worth $1,307,000. Czech National Bank boosted its holdings in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the period. Finally, Archer Investment Corp raised its position in shares of RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after buying an additional 4,151 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays increased their price objective on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, UBS Group increased their price objective on RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.07.

RTX Trading Down 2.5 %

NYSE RTX opened at $122.68 on Friday. The stock’s 50-day simple moving average is $120.79 and its two-hundred day simple moving average is $120.63. RTX Co. has a twelve month low of $88.90 and a twelve month high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $163.42 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.05%. RTX’s dividend payout ratio is currently 70.99%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

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.