First Trust Direct Indexing L.P. Increases Stock Holdings in RTX Co. (NYSE:RTX)

First Trust Direct Indexing L.P. increased its holdings in shares of RTX Co. (NYSE:RTX) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,108 shares of the company’s stock after buying an additional 2,639 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in RTX were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Robeco Institutional Asset Management B.V. grew its stake in RTX by 0.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 298,830 shares of the company’s stock valued at $21,507,000 after purchasing an additional 2,557 shares during the last quarter. Dakota Wealth Management boosted its stake in shares of RTX by 16.4% in the third quarter. Dakota Wealth Management now owns 30,511 shares of the company’s stock worth $2,196,000 after buying an additional 4,304 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of RTX by 11.5% in the third quarter. FinTrust Capital Advisors LLC now owns 10,934 shares of the company’s stock worth $787,000 after buying an additional 1,125 shares during the last quarter. Capital Advisors Inc. OK boosted its stake in shares of RTX by 1.4% in the third quarter. Capital Advisors Inc. OK now owns 16,296 shares of the company’s stock worth $1,173,000 after buying an additional 232 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of RTX by 13.2% in the third quarter. J.W. Cole Advisors Inc. now owns 28,379 shares of the company’s stock worth $2,042,000 after buying an additional 3,320 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RTX shares. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. TD Cowen upped their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Royal Bank of Canada upped their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Finally, Susquehanna increased their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.93.

RTX Stock Up 0.2 %

RTX stock traded up $0.24 during midday trading on Thursday, reaching $101.46. The company’s stock had a trading volume of 628,623 shares, compared to its average volume of 8,037,688. The business has a 50-day simple moving average of $96.01 and a 200-day simple moving average of $88.12. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a market cap of $134.89 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.83 and a beta of 0.84. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the prior year, the company earned $1.22 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is 92.55%.

Insider Buying and Selling at RTX

In related news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on 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 in the company, valued at $1,076,176.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders have sold a total of 127,547 shares of company stock valued at $12,553,645 in the last three months. 0.13% of the stock is currently owned by company insiders.

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.