Ballast Inc. Buys 718 Shares of RTX Co. (NYSE:RTX)

Ballast Inc. increased its position in shares of RTX Co. (NYSE:RTX) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,012 shares of the company’s stock after purchasing an additional 718 shares during the quarter. Ballast Inc.’s holdings in RTX were worth $1,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Motco grew its position in shares of RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after acquiring an additional 99 shares during the period. Enterprise Bank & Trust Co grew its holdings in RTX by 2.9% during the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock valued at $356,000 after purchasing an additional 100 shares during the period. Gold Investment Management Ltd. grew its holdings 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 purchasing an additional 103 shares during the period. Insight Inv LLC raised its stake in shares of RTX by 0.6% in the first quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock valued at $1,687,000 after buying an additional 105 shares during the period. Finally, Quent Capital LLC raised its stake in shares of RTX by 3.8% in the second quarter. Quent Capital LLC now owns 2,862 shares of the company’s stock valued at $287,000 after buying an additional 105 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on 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 owns 88,509 shares in the company, valued at approximately $10,090,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the sale, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on 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 owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Barclays boosted their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. UBS Group raised their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna lifted their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $153.47.

RTX Price Performance

Shares of RTX stock traded up $0.45 during trading on Monday, hitting $116.60. The company had a trading volume of 8,486,690 shares, compared to its average volume of 7,349,135. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.30. The stock has a market capitalization of $155.11 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average is $106.62 and its two-hundred day moving average is $100.64.

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

RTX Dividend Announcement

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 issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, August 16th. 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.