Main Street Research LLC Buys Shares of 2,867 RTX Co. (NYSE:RTX)

Main Street Research LLC bought a new stake in RTX Co. (NYSE:RTX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,867 shares of the company’s stock, valued at approximately $241,000.

Several other large investors have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of RTX during the first quarter worth about $28,000. Bear Mountain Capital Inc. bought a new stake in RTX in the fourth quarter worth approximately $25,000. Planned Solutions Inc. bought a new stake in RTX in the fourth quarter worth approximately $30,000. Strengthening Families & Communities LLC bought a new stake in RTX in the third quarter worth approximately $28,000. Finally, Financial Gravity Asset Management Inc. increased its holdings 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. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 target price on shares of RTX in a research report on Monday, April 1st. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Barclays boosted their price objective on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Royal Bank of Canada boosted their price objective on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Finally, UBS Group boosted their price objective on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.44.

Insider Transactions at RTX

In other news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other RTX news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,785 shares of company stock worth $3,448,188. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

Shares of RTX stock traded up $0.72 during trading on Tuesday, hitting $100.74. 3,595,111 shares of the stock traded hands, compared to its average volume of 8,285,169. The firm’s fifty day moving average is $93.79 and its 200-day moving average is $85.82. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. RTX Co. has a 52 week low of $68.56 and a 52 week high of $104.91. The stock has a market cap of $133.95 billion, a price-to-earnings ratio of 45.13, a PEG ratio of 1.82 and a beta of 0.88.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the company earned $1.27 EPS. RTX’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.34%. RTX’s dividend payout ratio is currently 105.36%.

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.