Norris Perne & French LLP MI Purchases 788 Shares of RTX Co. (NYSE:RTX)

Norris Perne & French LLP MI increased its position in RTX Co. (NYSE:RTX) by 21.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,393 shares of the company’s stock after buying an additional 788 shares during the quarter. Norris Perne & French LLP MI’s holdings in RTX were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in RTX in the 4th quarter worth approximately $25,000. Planned Solutions Inc. purchased a new position in shares of RTX during the fourth quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. increased its stake 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 valued at $32,000 after buying an additional 345 shares during the period. Valley National Advisers Inc. increased its stake in shares of RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of RTX during the fourth quarter valued at approximately $38,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

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

Analysts Set New Price Targets

RTX has been the topic of several research analyst reports. Citigroup boosted their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Robert W. Baird increased 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. UBS Group increased their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company increased their target price on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.33.

RTX Trading Down 0.2 %

Shares of RTX stock traded down $0.23 on Friday, reaching $100.39. The company had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. The firm has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 1.77 and a beta of 0.83. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The firm’s 50-day moving average price is $104.42 and its two-hundred day moving average price is $95.47. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65.

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

RTX Announces Dividend

The firm 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 2.51%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is currently 98.82%.

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.