RTX Co. (NYSE:RTX) Shares Purchased by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group grew its holdings in shares of RTX Co. (NYSE:RTX) by 29.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,966 shares of the company’s stock after acquiring an additional 2,039 shares during the quarter. Rehmann Capital Advisory Group’s holdings in RTX were worth $875,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in shares of RTX in the fourth quarter worth approximately $25,000. Planned Solutions Inc. acquired a new stake in RTX during the fourth quarter valued at $30,000. Financial Gravity Asset Management Inc. grew its stake in RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of RTX during the 4th quarter worth about $38,000. Finally, Fairman Group LLC acquired a new position in RTX in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Trading Down 0.8 %

NYSE RTX traded down $0.81 on Wednesday, reaching $100.30. The company had a trading volume of 2,911,385 shares, compared to its average volume of 7,481,199. The business has a 50 day moving average of $104.26 and a two-hundred day moving average of $96.57. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The firm has a market cap of $133.35 billion, a price-to-earnings ratio of 39.28, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.51%. RTX’s dividend payout ratio is presently 98.82%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Robert W. Baird raised their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Susquehanna upped their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Bank of America lifted their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Barclays increased their price objective on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Finally, TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.33.

Insider Activity at RTX

In other 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 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 the SEC website. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were 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 owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is owned by corporate insiders.

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.