NorthCrest Asset Manangement LLC Grows Stake in RTX Co. (NYSE:RTX)

NorthCrest Asset Manangement LLC increased its holdings in RTX Co. (NYSE:RTX) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,960 shares of the company’s stock after purchasing an additional 4,491 shares during the period. NorthCrest Asset Manangement LLC’s holdings in RTX were worth $25,802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors grew its position in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors boosted its stake in RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Marshall Wace LLP grew its holdings in RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after buying an additional 1,901,256 shares in the last quarter. International Assets Investment Management LLC increased its stake in RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after acquiring an additional 792,830 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Down 0.0 %

RTX traded down $0.01 on Friday, reaching $125.16. 4,716,205 shares of the company traded hands, compared to its average volume of 6,752,277. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $121.74 and a two-hundred day simple moving average of $111.28. The company has a market cap of $166.40 billion, a P/E ratio of 49.08, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. RTX Co. has a one year low of $77.76 and a one year high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts expect that RTX Co. will post 5.5 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 98.82%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada lifted their price objective on shares of RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. Finally, Susquehanna raised their price objective on RTX from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $168.56.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,856 shares of company stock valued at $17,131,253 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

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.