2,843 Shares in RTX Co. (NYSE:RTX) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,843 shares of the company’s stock, valued at approximately $239,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Boston Partners purchased a new stake in RTX in the third quarter valued at approximately $355,350,000. Massachusetts Financial Services Co. MA increased its holdings in shares of RTX by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after purchasing an additional 1,914,184 shares during the period. Van ECK Associates Corp increased its holdings in shares of RTX by 8,331.0% in the third quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock valued at $127,120,000 after purchasing an additional 1,745,344 shares during the period. Sanders Capital LLC increased its holdings in shares of RTX by 20.2% in the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of RTX by 12,753.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after purchasing an additional 1,389,143 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.3 %

Shares of RTX stock opened at $101.40 on Friday. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The stock has a market cap of $134.81 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.84 and a beta of 0.88. The business has a fifty day simple moving average of $95.57 and a 200-day simple moving average of $87.51. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. On average, analysts forecast that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s payout ratio is currently 92.55%.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other RTX news, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock valued at $3,448,188 over the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RTX shares. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 target price on shares of RTX in a report on Monday, April 1st. Royal Bank of Canada boosted their target price on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Susquehanna boosted their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday. Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.27.

RTX 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.