Everett Harris & Co. CA Buys 7,158 Shares of RTX Co. (NYSE:RTX)

Everett Harris & Co. CA increased its stake in RTX Co. (NYSE:RTX) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,919 shares of the company’s stock after acquiring an additional 7,158 shares during the period. Everett Harris & Co. CA’s holdings in RTX were worth $9,062,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in RTX during the 4th quarter valued at about $25,000. Planned Solutions Inc. purchased a new position in RTX during the 4th quarter valued at about $30,000. Alaska Permanent Fund Corp purchased a new position in RTX during the 1st quarter valued at about $42,000. Financial Gravity Asset Management Inc. increased its holdings in RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in RTX during the 4th quarter valued at about $38,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.33 during midday trading on Thursday, hitting $100.74. The company had a trading volume of 2,149,212 shares, compared to its average volume of 6,524,184. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market cap of $133.93 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 1.76 and a beta of 0.82. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The company has a fifty day moving average of $104.33 and a two-hundred day moving average of $95.99.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the prior year, the business posted $1.22 EPS. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.50%. RTX’s payout ratio is 98.82%.

Analysts Set New Price Targets

RTX has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, TD Cowen boosted their price target on 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, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $98.33.

Insider Activity

In other news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction 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 approximately $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

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.