Chapin Davis Inc. Boosts Stake in RTX Co. (NYSE:RTX)

Chapin Davis Inc. boosted its position in shares of RTX Co. (NYSE:RTX) by 4.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,866 shares of the company’s stock after acquiring an additional 660 shares during the quarter. Chapin Davis Inc.’s holdings in RTX were worth $1,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new position in RTX in the 4th quarter valued at about $25,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the fourth quarter worth approximately $30,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in RTX in the 4th quarter valued at $38,000. Finally, Fairman Group LLC purchased a new position in RTX during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.2 %

NYSE RTX opened at $100.39 on Monday. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65. The company has a 50-day moving average of $104.42 and a 200-day moving average of $95.65. The company has a market cap of $133.47 billion, a P/E ratio of 39.37, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share 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 business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the company posted $1.22 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.51%. RTX’s payout ratio is 98.82%.

Insider Activity at RTX

In related 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 transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated 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 directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last three months, insiders sold 119,937 shares of company stock worth $12,256,952. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RTX shares. UBS Group increased their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. TD Cowen lifted their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Barclays increased their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Wells Fargo & Company lifted their target price 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. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.33.

RTX 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.