Kraft Davis & Associates LLC Takes $287,000 Position in RTX Co. (NYSE:RTX)

Kraft Davis & Associates LLC bought a new stake in RTX Co. (NYSE:RTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,178 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in shares of RTX by 94.5% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 322,180 shares of the company’s stock valued at $31,918,000 after buying an additional 156,550 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of RTX by 9.2% in the first quarter. Parkside Financial Bank & Trust now owns 11,011 shares of the company’s stock valued at $1,091,000 after buying an additional 931 shares during the period. Ironwood Wealth Management LLC. boosted its stake in shares of RTX by 1.2% in the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock valued at $1,066,000 after buying an additional 128 shares during the period. AMI Investment Management Inc. boosted its stake in shares of RTX by 53.1% in the first quarter. AMI Investment Management Inc. now owns 35,502 shares of the company’s stock valued at $3,517,000 after buying an additional 12,316 shares during the period. Finally, LSV Asset Management boosted its stake in shares of RTX by 1.4% in the first quarter. LSV Asset Management now owns 141,700 shares of the company’s stock valued at $14,038,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, 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 transaction, 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 SEC, which is available at the SEC website. In other news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the company’s 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 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. Over the last quarter, insiders have sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Robert W. Baird upped their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. UBS Group increased their price objective on RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Barclays increased their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.44.

RTX Stock Performance

RTX stock traded up $0.86 during midday trading on Friday, reaching $101.57. 10,328,091 shares of the company’s stock traded hands, compared to its average volume of 8,269,268. The company has a 50-day moving average price of $94.55 and a two-hundred day moving average price of $86.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.32. The firm has a market capitalization of $135.05 billion, a PE ratio of 45.34, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The business had revenue of $19.93 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.32%. RTX’s payout ratio is currently 105.36%.

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.