&Partners Boosts Holdings in RTX Co. (NYSE:RTX)

&Partners increased its holdings in shares of RTX Co. (NYSE:RTX) by 64.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,991 shares of the company’s stock after buying an additional 2,353 shares during the period. &Partners’ holdings in RTX were worth $584,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors grew its stake in shares of RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after purchasing an additional 17,351,313 shares in the last quarter. Capital International Investors increased its holdings in shares of RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares during the last quarter. Norges Bank acquired a new stake in shares of RTX during the 4th quarter worth about $690,154,000. Massachusetts Financial Services Co. MA lifted its stake in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after purchasing an additional 6,932,011 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in RTX by 129.9% in the fourth quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after purchasing an additional 2,294,908 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE:RTX opened at $105.61 on Monday. 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 50-day moving average price of $104.38 and a 200 day moving average price of $94.97. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65. The company has a market cap of $140.41 billion, a P/E ratio of 41.42, a PEG ratio of 1.84 and a beta of 0.83.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Insider Buying and Selling at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly 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 the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,937 shares of company stock valued at $12,256,952. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RTX shares. Wells Fargo & Company boosted their price objective on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. TD Cowen upped their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays upped their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Bank of America lifted their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.