GAMMA Investing LLC Takes $794,000 Position in RTX Co. (NYSE:RTX)

GAMMA Investing LLC purchased a new position in RTX Co. (NYSE:RTX) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 8,712 shares of the company’s stock, valued at approximately $794,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Douglas Lane & Associates LLC increased its holdings in RTX by 4.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 5,987 shares of the company’s stock worth $431,000 after purchasing an additional 269 shares during the period. Flagship Harbor Advisors LLC boosted its position in shares of RTX by 17.0% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 21,938 shares of the company’s stock worth $1,579,000 after purchasing an additional 3,181 shares in the last quarter. 1900 Wealth Management LLC boosted its position in shares of RTX by 8.5% in the 3rd quarter. 1900 Wealth Management LLC now owns 3,662 shares of the company’s stock worth $264,000 after purchasing an additional 286 shares in the last quarter. DAVENPORT & Co LLC lifted its position in RTX by 375.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 520,438 shares of the company’s stock worth $37,461,000 after acquiring an additional 410,980 shares during the period. Finally, Park Place Capital Corp lifted its position in RTX by 47.2% during the 3rd quarter. Park Place Capital Corp now owns 12,684 shares of the company’s stock worth $913,000 after acquiring an additional 4,070 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. Barclays lifted their price target on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Royal Bank of Canada lifted their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. TD Cowen lifted their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, UBS Group lifted their price target on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average target price of $93.40.

RTX Price Performance

Shares of RTX stock traded down $0.22 on Tuesday, hitting $101.34. 8,567,400 shares of the company were exchanged, compared to its average volume of 8,264,439. The stock has a market capitalization of $134.75 billion, a price-to-earnings ratio of 45.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The company has a 50-day moving average price of $94.76 and a 200 day moving average price of $86.89. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is currently 105.36%.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock worth $3,448,188 in the last ninety days. Insiders own 0.13% of the company’s stock.

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.