QRG Capital Management Inc. Grows Stake in RTX Co. (NYSE:RTX)

QRG Capital Management Inc. boosted its stake in RTX Co. (NYSE:RTX) by 14.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,935 shares of the company’s stock after purchasing an additional 17,471 shares during the quarter. QRG Capital Management Inc.’s holdings in RTX were worth $13,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RTX. Gold Investment Management Ltd. boosted its position in RTX by 3.5% during the first quarter. Gold Investment Management Ltd. now owns 3,045 shares of the company’s stock valued at $297,000 after buying an additional 103 shares during the period. Insight Inv LLC increased its stake in RTX by 0.6% in the 1st quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock worth $1,687,000 after purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC lifted its position in RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares during the last quarter. Jacobsen Capital Management boosted its stake in shares of RTX by 3.0% during the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after purchasing an additional 114 shares during the period. Finally, TRUE Private Wealth Advisors grew its holdings in shares of RTX by 1.2% in the first quarter. TRUE Private Wealth Advisors now owns 9,952 shares of the company’s stock worth $971,000 after purchasing an additional 117 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Activity at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays upped their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Bank of America lifted their target price 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. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Monday. Robert W. Baird lifted their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company increased their target price on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, RTX presently has an average rating of “Hold” and an average target price of $98.33.

RTX Stock Performance

Shares of NYSE:RTX traded up $1.98 during mid-day trading on Tuesday, reaching $103.60. 3,226,684 shares of the company traded hands, compared to its average volume of 7,438,598. The company’s 50 day moving average price is $104.23 and its 200-day moving average price is $97.06. 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 firm has a market cap of $137.74 billion, a PE ratio of 39.85, a PEG ratio of 1.80 and a beta of 0.82. RTX Co. has a 52 week low of $68.56 and a 52 week high of $108.65.

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

RTX Announces Dividend

The company also recently announced 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 2.43%. RTX’s dividend payout ratio is currently 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.