Pointe Capital Management LLC Buys 2,141 Shares of RTX Co. (NYSE:RTX)

Pointe Capital Management LLC boosted its position in shares of RTX Co. (NYSE:RTX) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,944 shares of the company’s stock after purchasing an additional 2,141 shares during the quarter. RTX accounts for about 1.0% of Pointe Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Pointe Capital Management LLC’s holdings in RTX were worth $1,510,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC grew its position in shares of RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after purchasing an additional 28,910 shares during the period. Mather Group LLC. increased its position in shares of RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,079 shares in the last quarter. Rockline Wealth Management LLC acquired a new stake in shares of RTX during the fourth quarter worth $2,438,000. B&D White Capital Company LLC bought a new stake in RTX in the 3rd quarter valued at $14,186,000. Finally, PDS Planning Inc acquired a new position in RTX in the 4th quarter worth $356,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RTX shares. UBS Group boosted their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. TD Cowen upped their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Robert W. Baird lifted their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays increased their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Citigroup boosted their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research 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 given a buy rating to the company. According to MarketBeat, RTX currently has a consensus rating of “Hold” and an average target price of $96.93.

Insider Transactions at RTX

In other 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 sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction 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 sale, 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. Over the last quarter, insiders have sold 137,842 shares of company stock worth $13,603,426. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX traded down $0.49 during trading hours on Friday, reaching $101.40. The company’s stock had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. The company’s 50-day moving average is $96.70 and its 200-day moving average is $88.49. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The firm has a market cap of $134.81 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion for 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%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. On average, equities analysts forecast that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be given a $0.63 dividend. This is an increase from RTX’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. RTX’s dividend payout ratio is presently 92.55%.

RTX 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.