RTX Co. (NYSE:RTX) Shares Purchased by Platform Technology Partners

Platform Technology Partners raised its holdings in RTX Co. (NYSE:RTXFree Report) by 15.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,437 shares of the company’s stock after purchasing an additional 3,544 shares during the period. RTX comprises approximately 1.0% of Platform Technology Partners’ holdings, making the stock its 24th largest holding. Platform Technology Partners’ holdings in RTX were worth $2,409,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in RTX during the 4th quarter valued at $25,000. Planned Solutions Inc. bought a new position in shares of RTX during the fourth quarter worth about $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 worth $32,000 after purchasing an additional 345 shares in the last quarter. Valley National Advisers Inc. increased its holdings in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in RTX during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RTX shares. Susquehanna lifted their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. TD Cowen boosted their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company lifted their price target on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, UBS Group raised their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $98.33.

Read Our Latest Stock Report on RTX

Insider Buying and Selling

In related news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock worth $12,256,952 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

RTX Price Performance

Shares of NYSE:RTX traded down $0.10 during trading on Friday, reaching $108.08. The company had a trading volume of 3,526,487 shares, compared to its average volume of 7,586,222. The firm’s fifty day moving average is $103.09 and its 200 day moving average is $92.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market capitalization of $143.69 billion, a PE ratio of 42.50, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65.

RTX (NYSE:RTXGet Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 earnings per share. On average, equities analysts forecast that RTX Co. will post 5.4 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.33%. RTX’s dividend payout ratio is currently 98.82%.

About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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