iA Global Asset Management Inc. Buys 414 Shares of RTX Co. (NYSE:RTX)

iA Global Asset Management Inc. grew its position in RTX Co. (NYSE:RTX) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,997 shares of the company’s stock after purchasing an additional 414 shares during the quarter. iA Global Asset Management Inc.’s holdings in RTX were worth $1,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RTX. Bear Mountain Capital Inc. acquired a new position in RTX during the fourth quarter valued at $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of RTX in the 4th quarter worth approximately $38,000. Fairman Group LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $38,000. Beaird Harris Wealth Management LLC lifted its holdings in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares during the last quarter. Finally, USA Financial Formulas lifted its holdings in RTX by 510.3% during the 4th quarter. USA Financial Formulas now owns 476 shares of the company’s stock worth $40,000 after buying an additional 398 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

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 directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Stephen J. Timm sold 19,880 shares of the business’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 completion of the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,326 shares of company stock worth $7,081,998. Company insiders own 0.13% of the company’s stock.

RTX Trading Down 0.6 %

NYSE:RTX traded down $0.75 on Thursday, hitting $116.74. 5,132,319 shares of the stock were exchanged, compared to its average volume of 7,401,868. The stock has a market capitalization of $155.29 billion, a price-to-earnings ratio of 46.07, a P/E/G ratio of 2.07 and a beta of 0.82. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The company’s 50-day moving average price is $105.11 and its 200 day moving average price is $98.94.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the prior year, the business posted $1.29 EPS. RTX’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that RTX Co. will post 5.43 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is presently 98.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RTX shares. Robert W. Baird raised their price objective on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. UBS Group raised their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. TD Cowen raised their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research note on Wednesday. Finally, Royal Bank of Canada lifted their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $153.47.

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.