Tributary Capital Management LLC Increases Stake in RTX Co. (NYSE:RTX)

Tributary Capital Management LLC grew its holdings in shares of RTX Co. (NYSE:RTX) by 21.8% in the first quarter, HoldingsChannel reports. The fund owned 9,494 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Tributary Capital Management LLC’s holdings in RTX were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC boosted its holdings in RTX by 7.9% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after buying an additional 106 shares during the period. Jacobsen Capital Management boosted its position in shares of RTX by 3.0% during the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after acquiring an additional 114 shares during the last quarter. Diligent Investors LLC grew its holdings in shares of RTX by 1.4% in the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after purchasing an additional 118 shares in the last quarter. Hummer Financial Advisory Services Inc increased its position in RTX by 1.7% in the first quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock worth $715,000 after purchasing an additional 120 shares during the last quarter. Finally, Lcnb Corp raised its stake in RTX by 1.8% during the fourth quarter. Lcnb Corp now owns 7,065 shares of the company’s stock valued at $594,000 after purchasing an additional 122 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RTX shares. TD Cowen upped their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Susquehanna raised their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. UBS Group boosted their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Barclays increased their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.33.

Insider Transactions at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The stock was 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 in the company, valued at approximately $15,757,566. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Gregory Hayes sold 89,762 shares of the business’s 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 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 filing with the SEC, which is accessible through this link. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Up 0.1 %

NYSE RTX opened at $99.68 on Tuesday. The company has a fifty day moving average of $104.38 and a 200 day moving average of $95.78. The company has a market capitalization of $132.53 billion, a PE ratio of 39.04, a P/E/G ratio of 1.76 and a beta of 0.82. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65. 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 announced its quarterly earnings results 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 company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the business earned $1.22 earnings per share. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.53%. RTX’s payout ratio is 98.82%.

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.