RTX Co. (NYSE:RTX) Shares Bought by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC raised its holdings in RTX Co. (NYSE:RTX) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,570 shares of the company’s stock after purchasing an additional 453 shares during the period. Peddock Capital Advisors LLC’s holdings in RTX were worth $469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Northern Trust Corp raised its holdings in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after buying an additional 256,215 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after purchasing an additional 1,914,184 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in RTX by 9.8% in the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock worth $479,744,000 after purchasing an additional 593,305 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The shares were 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 $64,592,832.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,842 shares of company stock valued at $13,603,426. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen boosted their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada lifted their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Barclays upped their price objective on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird lifted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $96.93.

RTX Stock Up 1.3 %

Shares of RTX stock traded up $1.31 on Tuesday, reaching $103.22. 6,933,019 shares of the company’s stock traded hands, compared to its average volume of 8,097,605. The company has a market capitalization of $137.23 billion, a P/E ratio of 39.89, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The business’s 50 day moving average price is $96.94 and its two-hundred day moving average price is $88.89.

RTX (NYSE:RTX) last issued its 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 company 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 firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS. On average, equities analysts forecast that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.44%. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is currently 92.55%.

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.