Boston Financial Mangement LLC Grows Stock Position in RTX Co. (NYSE:RTX)

Boston Financial Mangement LLC lifted its stake in RTX Co. (NYSE:RTX) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,049 shares of the company’s stock after purchasing an additional 132 shares during the period. Boston Financial Mangement LLC’s holdings in RTX were worth $4,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Research Global Investors boosted its holdings in RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares during the period. Capital International Investors boosted its holdings in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in RTX by 2.0% during the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares during the last quarter. Finally, Sanders Capital LLC lifted its holdings in RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after buying an additional 677,520 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, 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. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $153.47.

RTX Stock Performance

RTX stock traded up $1.07 during trading on Friday, hitting $123.36. The company had a trading volume of 6,370,957 shares, compared to its average volume of 7,146,997. The firm has a market cap of $164.01 billion, a PE ratio of 48.38, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. RTX Co. has a 1-year low of $68.56 and a 1-year high of $123.70. The firm has a 50-day moving average price of $110.19 and a 200-day moving average price of $103.20. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. On average, analysts expect that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction that occurred 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 sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last quarter. Company 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.