HighPoint Advisor Group LLC Purchases Shares of 66,988 RTX Co. (NYSE:RTX)

HighPoint Advisor Group LLC acquired a new stake in RTX Co. (NYSE:RTXFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 66,988 shares of the company’s stock, valued at approximately $5,636,000.

Several other institutional investors have also modified their holdings of the stock. Financial Engines Advisors L.L.C. lifted its stake in shares of RTX by 31.1% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 5,672 shares of the company’s stock worth $408,000 after acquiring an additional 1,344 shares during the last quarter. QRG Capital Management Inc. purchased a new position in RTX during the 3rd quarter worth $8,567,000. Envestnet Portfolio Solutions Inc. purchased a new position in RTX during the 3rd quarter worth $5,225,000. Envestnet Asset Management Inc. increased its holdings in RTX by 3.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,665,280 shares of the company’s stock worth $263,790,000 after purchasing an additional 128,101 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in RTX by 1.0% during the 3rd quarter. Clearstead Advisors LLC now owns 26,616 shares of the company’s stock worth $1,916,000 after purchasing an additional 266 shares during the period. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RTX shares. TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Citigroup raised their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. UBS Group raised their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company lifted their price target on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Finally, Barclays lifted their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.33.

Check Out Our Latest Report on RTX

RTX Stock Performance

Shares of RTX stock traded up $0.60 on Tuesday, hitting $105.07. The company had a trading volume of 243,734 shares, compared to its average volume of 7,399,460. The firm has a market cap of $139.69 billion, a P/E ratio of 41.12, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83. The company has a 50-day moving average price of $104.05 and a 200-day moving average price of $94.34. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65.

RTX (NYSE:RTXGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. As a group, equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.40%. RTX’s payout ratio is 98.82%.

Insider Transactions at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock valued at $12,256,952 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

RTX Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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