31,210 Shares in RTX Co. (NYSE:RTX) Purchased by Keynote Financial Services LLC

Keynote Financial Services LLC acquired a new position in shares of RTX Co. (NYSE:RTX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 31,210 shares of the company’s stock, valued at approximately $3,044,000. RTX comprises 2.6% of Keynote Financial Services LLC’s investment portfolio, making the stock its 5th largest holding.

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

RTX Stock Performance

Shares of NYSE RTX traded down $0.30 during trading on Friday, reaching $116.44. The stock had a trading volume of 4,578,404 shares, compared to its average volume of 6,574,825. RTX Co. has a one year low of $68.56 and a one year high of $118.30. 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 stock has a market cap of $154.81 billion, a PE ratio of 45.66, a P/E/G ratio of 2.06 and a beta of 0.82. The firm’s 50 day moving average price is $105.54 and its two-hundred day moving average price is $99.37.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 EPS. On average, research analysts forecast that RTX Co. will post 5.44 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm 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 $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RTX shares. Royal Bank of Canada increased their price target 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. Melius Research increased their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. The Goldman Sachs Group raised their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a report on Wednesday. Finally, Susquehanna raised their target price on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $153.47.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly 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 is accessible through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,213 shares of company stock valued at $22,963,593. Corporate insiders own 0.13% of the company’s stock.

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.