Main Street Research LLC Purchases New Position in RTX Co. (NYSE:RTX)

Main Street Research LLC purchased a new stake in RTX Co. (NYSE:RTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,867 shares of the company’s stock, valued at approximately $241,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its holdings in shares of RTX by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after buying an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC acquired a new position in RTX during the fourth quarter worth about $2,438,000. B&D White Capital Company LLC acquired a new position in RTX during the third quarter worth about $14,186,000. Hurlow Wealth Management Group Inc. acquired a new position in RTX during the fourth quarter worth about $206,000. Finally, Cape Cod Five Cents Savings Bank grew its position in RTX by 23.0% during the third quarter. Cape Cod Five Cents Savings Bank now owns 27,622 shares of the company’s stock worth $1,988,000 after buying an additional 5,159 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of several recent analyst reports. Barclays upped their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price target on shares of RTX in a research report on Monday, April 1st. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and increased their price target for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird increased their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX has an average rating of “Hold” and an average target price of $94.44.

Insider Activity at RTX

In related news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Up 0.7 %

Shares of RTX traded up $0.72 during mid-day trading on Tuesday, reaching $100.74. The company had a trading volume of 3,595,111 shares, compared to its average volume of 8,285,169. The stock has a market cap of $133.95 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 1.82 and a beta of 0.88. The firm has a fifty day simple moving average of $93.79 and a 200-day simple moving average of $85.82. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $104.91. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. The business had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 EPS. On average, sell-side analysts anticipate that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. RTX’s payout ratio is 105.36%.

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.