Sharpepoint LLC Takes $1.03 Million Position in RTX Co. (NYSE:RTX)

Sharpepoint LLC acquired a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,863 shares of the company’s stock, valued at approximately $1,026,000.

Several other hedge funds have also recently added to or reduced their stakes in RTX. Fairway Wealth LLC bought a new stake in shares of RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management boosted its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Modus Advisors LLC acquired a new stake in RTX in the 4th quarter worth $39,000. Millstone Evans Group LLC bought a new position in shares of RTX during the 4th quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the fourth quarter valued at about $40,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 in the last quarter. Insiders own 0.15% of the company’s stock.

RTX Trading Down 0.3 %

RTX stock opened at $128.89 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $172.07 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.11 and a beta of 0.58. The business has a fifty day moving average price of $128.59 and a 200 day moving average price of $123.83. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Finally, Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.27.

RTX Company 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.