Gilman Hill Asset Management LLC Buys New Position in RTX Co. (NYSE:RTX)

Gilman Hill Asset Management LLC bought a new stake in RTX Co. (NYSE:RTX) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,671 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service increased its position in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after purchasing an additional 375,781 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after acquiring an additional 936,953 shares during the last quarter. Archer Investment Corp boosted its stake in RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock valued at $610,000 after purchasing an additional 4,151 shares during the period. Thoroughbred Financial Services LLC boosted its stake in RTX by 43.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock valued at $3,046,000 after purchasing an additional 7,987 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new stake in RTX in the 4th quarter valued at $3,356,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent analyst reports. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $159.82.

RTX Price Performance

Shares of RTX opened at $138.99 on Friday. RTX Co. has a 12-month low of $99.07 and a 12-month high of $139.53. The business has a 50-day simple moving average of $129.50 and a two-hundred day simple moving average of $125.61. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $185.68 billion, a PE ratio of 39.15, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is presently 79.77%.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

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.