Cantor Fitzgerald Investment Advisors L.P. Takes $21.23 Million Position in RTX Co. (NYSE:RTX)

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 252,365 shares of the company’s stock, valued at approximately $21,234,000. RTX makes up about 1.6% of Cantor Fitzgerald Investment Advisors L.P.’s investment portfolio, making the stock its 17th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. WealthPlan Investment Management LLC increased its position in RTX by 90,520.0% in the 3rd quarter. WealthPlan Investment Management LLC now owns 4,531 shares of the company’s stock worth $326,000 after purchasing an additional 4,526 shares during the last quarter. Victory Capital Management Inc. raised its position in RTX by 3.7% during the third quarter. Victory Capital Management Inc. now owns 816,803 shares of the company’s stock valued at $58,785,000 after acquiring an additional 28,796 shares in the last quarter. Versor Investments LP acquired a new stake in RTX in the third quarter valued at approximately $321,000. PFG Investments LLC grew its position in RTX by 8.6% in the third quarter. PFG Investments LLC now owns 5,855 shares of the company’s stock worth $421,000 after acquiring an additional 465 shares in the last quarter. Finally, Callan Capital LLC increased its stake in shares of RTX by 17.0% during the 3rd quarter. Callan Capital LLC now owns 4,763 shares of the company’s stock worth $343,000 after purchasing an additional 691 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,042 shares of company stock valued at $12,266,459. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RTX. Bank of America lifted their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Susquehanna increased their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Barclays upped their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, TD Cowen upped their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.33.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.86 during trading on Friday, hitting $106.27. 3,431,308 shares of the stock were exchanged, compared to its average volume of 6,166,759. The company’s fifty day simple moving average is $101.04 and its 200-day simple moving average is $91.40. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market capitalization of $141.29 billion, a price-to-earnings ratio of 41.67, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. RTX Co. has a 1-year low of $68.56 and a 1-year high of $107.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts expect that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a $0.63 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s dividend payout ratio is currently 98.82%.

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.