Grandfield & Dodd LLC Acquires 16,604 Shares of RTX Co. (NYSE:RTX)

Grandfield & Dodd LLC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 358,529 shares of the company’s stock after buying an additional 16,604 shares during the period. RTX comprises 2.2% of Grandfield & Dodd LLC’s holdings, making the stock its 15th largest position. Grandfield & Dodd LLC’s holdings in RTX were worth $34,967,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America raised 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 lifted their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Susquehanna increased 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. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, StockNews.com cut RTX from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $98.33.

Insider Activity at RTX

In other 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 transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the firm’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 transaction, 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. In the last three months, insiders have sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is owned by insiders.

RTX Price Performance

NYSE:RTX traded up $1.06 during mid-day trading on Thursday, reaching $101.74. The stock had a trading volume of 7,592,411 shares, compared to its average volume of 7,509,102. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65. The stock has a market capitalization of $135.26 billion, a PE ratio of 39.90, 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. The stock has a 50-day simple moving average of $104.24 and a two-hundred day simple moving average of $96.64.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share 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 the consensus estimate of $18.44 billion. During the same quarter last year, the business posted $1.22 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.48%. RTX’s payout ratio is currently 98.82%.

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.