Symphony Financial Ltd. Co. Boosts Position in RTX Co. (NYSE:RTX)

Symphony Financial Ltd. Co. boosted its position in shares of RTX Co. (NYSE:RTX) by 21.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,482 shares of the company’s stock after acquiring an additional 2,204 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in RTX were worth $1,217,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. RFG Advisory LLC grew its holdings in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares during the period. TCW Group Inc. bought a new stake in RTX during the fourth quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC bought a new stake in RTX during the fourth quarter valued at about $672,000. Mather Group LLC. grew its holdings in RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares during the period. Finally, Rockline Wealth Management LLC bought a new stake in RTX during the fourth quarter valued at about $2,438,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of the 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 completion of the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. Bank of America boosted their price target on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price objective on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Barclays upped their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Susquehanna upped their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday. Two equities 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.33.

RTX Trading Down 0.2 %

RTX stock traded down $0.23 during midday trading on Friday, reaching $100.39. 13,853,219 shares of the company traded hands, compared to its average volume of 6,408,701. RTX Co. has a 52-week low of $68.56 and a 52-week 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. The business has a 50 day moving average of $104.42 and a 200-day moving average of $95.57. The firm has a market capitalization of $133.47 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 1.76 and a beta of 0.83.

RTX (NYSE:RTX) last issued 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 business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

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 dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%. RTX’s dividend payout ratio (DPR) is presently 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.