HighPoint Advisor Group LLC Takes $5.64 Million Position in RTX Co. (NYSE:RTX)

HighPoint Advisor Group LLC purchased a new stake in RTX Co. (NYSE:RTXFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 66,988 shares of the company’s stock, valued at approximately $5,636,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Fairman Group LLC acquired a new position in RTX during the 4th quarter valued at about $38,000. Napatree Capital LLC bought a new stake in shares of RTX during the 4th quarter worth about $910,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of RTX during the 4th quarter worth about $56,000. Leo Wealth LLC bought a new stake in shares of RTX during the 4th quarter worth about $380,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of RTX during the 4th quarter worth about $247,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on RTX shares. Bank of America boosted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Barclays boosted 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, April 30th. UBS Group boosted their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna boosted their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, Citigroup lifted their target price 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 research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $98.33.

View Our Latest Analysis on RTX

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the firm’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 completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is owned by corporate insiders.

RTX Price Performance

Shares of RTX traded up $0.60 during trading hours on Tuesday, hitting $105.07. The stock had a trading volume of 243,734 shares, compared to its average volume of 7,399,460. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65. The company’s fifty day moving average is $104.05 and its two-hundred day moving average is $94.34. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market capitalization of $139.69 billion, a price-to-earnings ratio of 41.12, a P/E/G ratio of 1.83 and a beta of 0.83.

RTX (NYSE:RTXGet Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (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 company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the company posted $1.22 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.40%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

RTX Profile

(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.

See Also

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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