Cullen Capital Management LLC acquired a new stake in RTX Corporation (NYSE:RTX – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,151,388 shares of the company’s stock, valued at approximately $218,453,000. RTX comprises 2.1% of Cullen Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Cullen Capital Management LLC owned about 0.09% of RTX as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Navalign LLC bought a new position in shares of RTX during the 4th quarter worth $25,000. Commonwealth Retirement Investments LLC bought a new stake in RTX in the 4th quarter valued at about $26,000. Core Wealth Advisors LLC purchased a new stake in RTX during the fourth quarter valued at about $31,000. 1 North Wealth Services LLC increased its stake in shares of RTX by 456.7% in the fourth quarter. 1 North Wealth Services LLC now owns 167 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Finally, Evergreen Advisors LLC purchased a new position in shares of RTX in the first quarter worth about $31,000. 86.50% of the stock is owned by institutional investors.
RTX Stock Down 0.3%
RTX opened at $209.22 on Tuesday. The business’s fifty day simple moving average is $204.25 and its 200 day simple moving average is $195.53. RTX Corporation has a 52 week low of $150.61 and a 52 week high of $226.88. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.47. The stock has a market cap of $281.97 billion, a PE ratio of 36.83, a P/E/G ratio of 2.50 and a beta of 0.29.
RTX Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 14th will be given a $0.73 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.4%. RTX’s payout ratio is presently 51.41%.
Insiders Place Their Bets
In other news, VP Kevin G. Dasilva sold 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $216.93, for a total value of $488,092.50. Following the completion of the sale, the vice president directly owned 20,099 shares in the company, valued at approximately $4,360,076.07. The trade was a 10.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Troy D. Brunk sold 8,557 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $210.29, for a total transaction of $1,799,451.53. Following the completion of the sale, the insider directly owned 8,809 shares of the company’s stock, valued at $1,852,444.61. This trade represents a 49.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,222 shares of company stock valued at $6,362,003 over the last quarter. 0.10% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on RTX shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $238.00 price objective on shares of RTX in a report on Monday, July 27th. Morgan Stanley restated an “overweight” rating and set a $240.00 target price on shares of RTX in a research report on Friday, July 24th. Susquehanna raised their price target on RTX from $235.00 to $245.00 and gave the stock a “positive” rating in a report on Friday, July 24th. Robert W. Baird set a $240.00 price target on RTX in a research report on Friday, July 24th. Finally, Erste Group Bank lowered RTX from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.59.
Get Our Latest Stock Report on RTX
RTX Profile
RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.
RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.
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