Chicago Capital LLC Raises Stake in RTX Co. (NYSE:RTX)

Chicago Capital LLC lifted its stake in RTX Co. (NYSE:RTX) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,393 shares of the company’s stock after purchasing an additional 472 shares during the period. Chicago Capital LLC’s holdings in RTX were worth $1,986,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc raised its stake in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX in the 2nd quarter worth $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX during the 2nd quarter worth $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of RTX in the first quarter valued at about $42,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $125.92 on Friday. The firm has a market capitalization of $167.41 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 2.21 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. The company’s fifty day moving average price is $120.91 and its 200-day moving average price is $110.46. RTX Co. has a 1-year low of $72.48 and a 1-year high of $127.00.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Insider Transactions at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on 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 transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction 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 sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RTX shares. Melius Research increased their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. The Goldman Sachs Group boosted their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, TD Cowen upgraded RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus price target of $162.50.

About RTX

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.