EdgeRock Capital LLC Invests $458,000 in RTX Co. (NYSE:RTX)

EdgeRock Capital LLC bought a new stake in RTX Co. (NYSE:RTX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,980 shares of the company’s stock, valued at approximately $458,000.

A number of other institutional investors have also bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new stake in shares of RTX in the 4th quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX during the third quarter valued at approximately $28,000. Planned Solutions Inc. bought a new position in shares of RTX in the 4th quarter worth $30,000. Financial Gravity Asset Management Inc. grew its position in RTX by 352.0% in the 3rd 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 during the period. Finally, Valley National Advisers Inc. increased its stake in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX traded up $1.31 during midday trading on Tuesday, reaching $103.22. The company had a trading volume of 6,933,019 shares, compared to its average volume of 8,097,605. The stock has a market cap of $137.23 billion, a P/E ratio of 39.89, a P/E/G ratio of 1.83 and a beta of 0.84. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The business’s 50-day simple moving average is $96.94 and its 200 day simple moving average is $88.89.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the firm posted $1.22 EPS. On average, analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.44%. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s payout ratio is 92.55%.

Insider Transactions at RTX

In other RTX news, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders sold 137,842 shares of company stock worth $13,603,426 in the last 90 days. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RTX shares. UBS Group lifted their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Barclays boosted their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, Citigroup raised their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two investment 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.93.

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.