RTX Co. (NYSE:RTX) Shares Bought by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. grew its holdings in RTX Co. (NYSE:RTX) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,450 shares of the company’s stock after acquiring an additional 170 shares during the quarter. Mcrae Capital Management Inc.’s holdings in RTX were worth $246,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RTX. Spinnaker Investment Group LLC purchased a new stake in shares of RTX during the second quarter valued at $214,000. Diversified LLC acquired a new stake in RTX during the 2nd quarter worth about $203,000. Slagle Financial LLC grew its stake in RTX by 16.2% during the 2nd quarter. Slagle Financial LLC now owns 33,286 shares of the company’s stock valued at $3,342,000 after purchasing an additional 4,631 shares during the last quarter. Cornerstone Wealth Group LLC increased its holdings in shares of RTX by 20.2% in the second quarter. Cornerstone Wealth Group LLC now owns 3,035 shares of the company’s stock valued at $305,000 after purchasing an additional 509 shares during the period. Finally, Goldstein Advisors LLC raised its stake in shares of RTX by 1.8% in the second quarter. Goldstein Advisors LLC now owns 7,880 shares of the company’s stock worth $791,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock traded up $0.50 during mid-day trading on Friday, reaching $118.52. 3,405,480 shares of the company’s stock were exchanged, compared to its average volume of 7,215,377. The company has a market cap of $157.57 billion, a price-to-earnings ratio of 46.30, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. RTX Co. has a 12-month low of $68.56 and a 12-month high of $118.99. The stock’s 50 day moving average is $108.30 and its 200 day moving average is $101.99. 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 (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. On average, research analysts expect that RTX Co. will post 5.44 EPS for the current year.

RTX Dividend Announcement

The business 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 $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. RTX’s dividend payout ratio (DPR) is 98.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RTX shares. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Cowen upped their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Robert W. Baird raised their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Barclays upped their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Finally, Melius Research increased their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned 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.

Insider Transactions at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last 90 days. 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.