Sawgrass Asset Management LLC Purchases 3,607 Shares of RTX Co. (NYSE:RTX)

Sawgrass Asset Management LLC increased its position in RTX Co. (NYSE:RTX) by 68.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,881 shares of the company’s stock after acquiring an additional 3,607 shares during the quarter. Sawgrass Asset Management LLC’s holdings in RTX were worth $747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Jacobsen Capital Management increased its position in shares of RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after buying an additional 114 shares in the last quarter. Diligent Investors LLC increased its holdings in RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after acquiring an additional 118 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group grew its position in shares of RTX by 2.1% in the fourth quarter. Kerntke Otto McGlone Wealth Management Group now owns 6,108 shares of the company’s stock valued at $514,000 after purchasing an additional 128 shares during the period. Finally, Dempze Nancy E raised its position in shares of RTX by 0.5% during the 3rd quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock worth $2,075,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s 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 completion of the transaction, the director now 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 available at the SEC website. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,842 shares of company stock valued at $13,603,426. Corporate insiders own 0.13% of the company’s stock.

RTX Trading Up 1.3 %

NYSE RTX traded up $1.31 during trading hours on Tuesday, reaching $103.22. The company had a trading volume of 6,933,019 shares, compared to its average volume of 8,097,605. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $137.23 billion, a P/E ratio of 39.89, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The stock has a 50-day moving average of $96.94 and a 200 day moving average of $88.89. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.44%. RTX’s payout ratio is presently 92.55%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RTX shares. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Bank of America lifted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Barclays boosted their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada boosted their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $96.93.

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.