Cohen Investment Advisors LLC Purchases 1,269 Shares of RTX Co. (NYSE:RTX)

Cohen Investment Advisors LLC raised its position in RTX Co. (NYSE:RTX) by 4.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,457 shares of the company’s stock after acquiring an additional 1,269 shares during the quarter. RTX makes up 1.7% of Cohen Investment Advisors LLC’s portfolio, making the stock its 28th biggest holding. Cohen Investment Advisors LLC’s holdings in RTX were worth $2,678,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Gotham Asset Management LLC boosted its stake in shares of RTX by 86.9% during the 3rd quarter. Gotham Asset Management LLC now owns 27,664 shares of the company’s stock worth $1,991,000 after acquiring an additional 12,863 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in RTX by 5,145.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 23,971 shares of the company’s stock worth $1,725,000 after purchasing an additional 23,514 shares during the period. Ellerson Group Inc. ADV purchased a new position in RTX during the third quarter valued at $141,000. ELCO Management Co. LLC grew its holdings in RTX by 29.8% during the third quarter. ELCO Management Co. LLC now owns 12,706 shares of the company’s stock valued at $914,000 after purchasing an additional 2,918 shares during the period. Finally, Earnest Partners LLC increased its position in RTX by 48.9% in the third quarter. Earnest Partners LLC now owns 7,822 shares of the company’s stock worth $563,000 after buying an additional 2,569 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In related news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Robert W. Baird raised their price objective 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. UBS Group upped their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Citigroup boosted their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average target price of $98.33.

RTX Price Performance

NYSE:RTX traded up $0.33 during trading hours on Thursday, reaching $100.74. The stock 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 quick ratio of 0.79 and a current ratio of 1.07. The stock has a market capitalization of $133.93 billion, a PE ratio of 39.51, a PEG ratio of 1.76 and a beta of 0.82. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65. The company has a 50 day moving average price of $104.33 and a two-hundred day moving average price of $95.99.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $18.44 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. RTX’s revenue was up 12.1% on a year-over-year basis. As a group, 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. Shareholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.50%. RTX’s 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.