7,015 Shares in RTX Co. (NYSE:RTX) Bought by Novem Group

Novem Group purchased a new stake in RTX Co. (NYSE:RTX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 7,015 shares of the company’s stock, valued at approximately $812,000.

A number of other hedge funds also recently made changes to their positions in RTX. Vanguard Group Inc. raised its position in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after buying an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after buying an additional 576,214 shares during the period. Franklin Resources Inc. boosted its stake in RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after buying an additional 603,159 shares in the last quarter. Finally, Norges Bank acquired a new position in RTX during the fourth quarter worth $1,745,644,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,946 shares of company stock worth $9,024,856. Insiders own 0.15% of the company’s stock.

RTX Stock Down 1.6%

Shares of NYSE RTX opened at $134.93 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $180.25 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The firm’s 50-day moving average is $129.10 and its 200-day moving average is $124.52. RTX Co. has a 1 year low of $99.07 and a 1 year high of $138.82.

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. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 2.02%. RTX’s dividend payout ratio is presently 79.77%.

Analyst Ratings Changes

Several research firms have recently weighed in on RTX. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Finally, Citigroup cut their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, RTX has an average rating of “Buy” and a consensus price target of $159.82.

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.