Patrick M Sweeney & Associates Inc. Makes New $592,000 Investment in RTX Co. (NYSE:RTX)

Patrick M Sweeney & Associates Inc. bought a new stake in RTX Co. (NYSE:RTX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 7,039 shares of the company’s stock, valued at approximately $592,000.

Several other hedge funds have also made changes to their positions in the business. Northern Trust Corp lifted its position in RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after acquiring an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock worth $784,735,000 after purchasing an additional 60,319 shares during the period. Sanders Capital LLC grew its position in RTX by 20.2% in the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after buying an additional 1,682,928 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in RTX by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after buying an additional 1,914,184 shares during the period. Finally, American Century Companies Inc. raised its position in RTX by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock worth $479,744,000 after buying an additional 593,305 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. TD Cowen boosted their price target 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. Citigroup boosted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TheStreet raised RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Finally, Bank of America raised their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus target price of $96.93.

RTX Trading Up 0.7 %

Shares of NYSE:RTX traded up $0.71 during trading on Wednesday, reaching $103.94. 5,159,790 shares of the stock were exchanged, compared to its average volume of 8,064,601. RTX Co. has a 12-month low of $68.56 and a 12-month high of $104.09. The firm’s 50-day moving average price is $97.20 and its 200 day moving average price is $89.11. 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 cap of $138.19 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 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 business had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, sell-side analysts anticipate that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insiders Place Their Bets

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction 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 owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold a total of 135,618 shares of company stock worth $13,397,978 in the last 90 days. 0.13% of the stock is owned by company insiders.

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.