Bessemer Group Inc. Buys 4,764 Shares of RTX Corporation (NYSE:RTX)

Bessemer Group Inc. raised its stake in RTX Corporation (NYSE:RTX) by 11.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 47,624 shares of the company’s stock after acquiring an additional 4,764 shares during the period. Bessemer Group Inc.’s holdings in RTX were worth $6,307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 10Elms LLP bought a new position in shares of RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management raised its holdings in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $39,000. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on RTX shares. JPMorgan Chase & Co. decreased their target price on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. Susquehanna decreased their price objective on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $161.12.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The stock was 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. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of 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 disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

RTX Trading Up 1.4%

NYSE RTX opened at $144.64 on Friday. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The stock has a market cap of $193.23 billion, a P/E ratio of 42.42, a P/E/G ratio of 2.58 and a beta of 0.63. The stock’s fifty day moving average price is $134.87 and its 200-day moving average price is $128.29. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. As a group, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.88%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

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.