Sky Investment Group LLC Grows Stock Position in RTX Co. (NYSE:RTX)

Sky Investment Group LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 0.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 80,811 shares of the company’s stock after acquiring an additional 80 shares during the period. RTX comprises about 2.0% of Sky Investment Group LLC’s investment portfolio, making the stock its 12th biggest position. Sky Investment Group LLC’s holdings in RTX were worth $10,704,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 10Elms LLP purchased a new position in shares of RTX in the 4th quarter valued at about $29,000. Fairway Wealth LLC purchased a new position in shares of RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management increased its stake in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in shares of RTX in the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target for the company in a research note on Wednesday, April 23rd. Cowen reiterated a “buy” rating on shares of RTX in a report on Friday, May 23rd. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $159.82.

RTX Trading Down 0.6%

Shares of RTX stock opened at $140.92 on Friday. The stock has a market cap of $188.26 billion, a P/E ratio of 39.70, a P/E/G ratio of 2.11 and a beta of 0.63. The stock’s 50 day simple moving average is $130.91 and its 200-day simple moving average is $126.33. RTX Co. has a 1-year low of $99.07 and a 1-year high of $149.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is presently 79.77%.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now owns 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% 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.