McAdam LLC Raises Position in RTX Co. (NYSE:RTX)

McAdam LLC lifted its stake in shares of RTX Co. (NYSE:RTX) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 3,622 shares of the company’s stock after acquiring an additional 115 shares during the period. McAdam LLC’s holdings in RTX were worth $364,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. LRI Investments LLC increased its holdings in RTX by 8.0% during the 2nd quarter. LRI Investments LLC now owns 72,811 shares of the company’s stock worth $7,309,000 after purchasing an additional 5,405 shares during the period. TrueWealth Advisors LLC acquired a new position in shares of RTX during the second quarter worth about $201,000. Tower Bridge Advisors grew its position in shares of RTX by 1.2% during the second quarter. Tower Bridge Advisors now owns 103,666 shares of the company’s stock worth $10,407,000 after buying an additional 1,222 shares in the last quarter. Processus Wealth & Capital Management LLC increased its stake in shares of RTX by 1.3% during the second quarter. Processus Wealth & Capital Management LLC now owns 24,516 shares of the company’s stock worth $2,461,000 after buying an additional 324 shares during the period. Finally, Everhart Financial Group Inc. lifted its stake in RTX by 19.8% in the second quarter. Everhart Financial Group Inc. now owns 6,095 shares of the company’s stock worth $612,000 after acquiring an additional 1,006 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 in the last quarter. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on RTX shares. JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. TD Cowen lifted their price target on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group increased their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Susquehanna boosted their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $153.47.

RTX Trading Up 0.4 %

Shares of RTX stock opened at $118.52 on Friday. The business’s fifty day moving average price is $108.59 and its 200 day moving average price is $102.24. The firm has a market capitalization of $157.57 billion, a PE ratio of 46.48, a P/E/G ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1-year low of $68.56 and a 1-year high of $118.99.

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

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 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.