Griffin Asset Management Inc. Buys 48,406 Shares of RTX Co. (NYSE:RTX)

Griffin Asset Management Inc. boosted its stake in RTX Co. (NYSE:RTX) by 147.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,126 shares of the company’s stock after acquiring an additional 48,406 shares during the period. Griffin Asset Management Inc.’s holdings in RTX were worth $7,912,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors lifted its position in shares of RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares during the last quarter. Sanders Capital LLC grew its stake in shares of RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after acquiring an additional 677,520 shares during the period. Finally, Norges Bank purchased a new stake in RTX in the 4th quarter worth about $690,154,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Trading Down 0.2 %

Shares of RTX stock traded down $0.23 on Friday, hitting $100.39. 13,853,219 shares of the company’s stock traded hands, compared to its average volume of 6,408,701. The stock has a market capitalization 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’s fifty day simple moving average is $104.42 and its 200 day simple moving average is $95.47. RTX Co. has a one year low of $68.56 and a one year high of $108.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.51%. RTX’s payout ratio is currently 98.82%.

Insider Activity

In related news, CEO Gregory Hayes sold 89,762 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $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 news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory Hayes sold 89,762 shares of the firm’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 sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RTX shares. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday. TD Cowen raised their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Barclays boosted their target price 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. UBS Group raised their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Susquehanna lifted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.33.

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.