Redwood Investments LLC Raises Stake in RTX Co. (NYSE:RTX)

Redwood Investments LLC lifted its holdings in RTX Co. (NYSE:RTX) by 31.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,178 shares of the company’s stock after purchasing an additional 768 shares during the quarter. Redwood Investments LLC’s holdings in RTX were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RTX. Fairway Wealth LLC purchased a new position in RTX during the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new stake in shares of RTX during the fourth quarter worth $34,000. Millstone Evans Group LLC purchased a new position in shares of RTX in the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX during the 4th quarter worth $40,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Finally, Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, RTX currently has an average rating of “Buy” and a consensus target price of $159.82.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,946 shares of company stock valued at $9,024,856. Company insiders own 0.15% of the company’s stock.

RTX Stock Up 0.1%

Shares of RTX stock opened at $130.82 on Thursday. The stock has a market cap of $174.77 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The stock has a fifty day moving average price of $128.37 and a 200 day moving average price of $124.03.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. Analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.08%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio is presently 79.77%.

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.