Lathrop Investment Management Corp Has $8.07 Million Stock Position in RTX Co. (NYSE:RTX)

Lathrop Investment Management Corp lowered its stake in RTX Co. (NYSE:RTX) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,892 shares of the company’s stock after selling 1,459 shares during the period. RTX accounts for 1.6% of Lathrop Investment Management Corp’s holdings, making the stock its 29th largest holding. Lathrop Investment Management Corp’s holdings in RTX were worth $8,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Boston Partners bought a new position in shares of RTX during the third quarter valued at $355,350,000. Massachusetts Financial Services Co. MA raised its stake in shares of RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after acquiring an additional 1,914,184 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of RTX by 8,331.0% during the third quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock valued at $127,120,000 after acquiring an additional 1,745,344 shares during the last quarter. Sanders Capital LLC raised its stake in shares of RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after acquiring an additional 1,682,928 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of RTX by 12,753.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after acquiring an additional 1,389,143 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. Bank of America raised their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays lifted their target price on shares of RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. 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 research note on Tuesday, March 19th. UBS Group lifted their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Citigroup lifted their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.27.

RTX Stock Down 0.3 %

Shares of NYSE RTX traded down $0.30 during mid-day trading on Friday, reaching $101.41. 4,428,318 shares of the company’s stock traded hands, compared to its average volume of 8,154,806. The stock has a market cap of $134.83 billion, a P/E ratio of 39.76, a PEG ratio of 1.84 and a beta of 0.88. The business has a 50-day simple moving average of $95.57 and a 200 day simple moving average of $87.51. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78.

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 net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the company earned $1.22 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. On average, analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is owned by insiders.

RTX Company 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.