Sanders Morris Harris LLC Boosts Stake in RTX Co. (NYSE:RTX)

Sanders Morris Harris LLC raised its position in RTX Co. (NYSE:RTX) by 13.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,820 shares of the company’s stock after buying an additional 1,190 shares during the period. Sanders Morris Harris LLC’s holdings in RTX were worth $958,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new position in RTX in the 4th quarter valued at about $25,000. Planned Solutions Inc. purchased a new position in RTX in the 4th quarter valued at about $30,000. Alaska Permanent Fund Corp bought a new position in shares of RTX during the first quarter worth about $42,000. Financial Gravity Asset Management Inc. lifted its position in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of RTX during the fourth quarter worth about $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RTX shares. UBS Group increased their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Citigroup increased their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Bank of America increased their price target on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays increased their price target on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, RTX has an average rating of “Hold” and a consensus price target of $98.33.

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock worth $12,256,952 over the last quarter. 0.13% of the stock is currently owned by company insiders.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.54 during trading hours on Friday, hitting $105.61. The stock had a trading volume of 13,311,891 shares, compared to its average volume of 4,735,286. The stock’s fifty day simple moving average is $104.38 and its 200 day simple moving average is $94.89. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The firm has a market capitalization of $140.41 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 1.84 and a beta of 0.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 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 company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the business earned $1.22 earnings per share. RTX’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.39%. RTX’s dividend payout ratio is presently 98.82%.

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.