Bridgefront Capital LLC Makes New Investment in RTX Co. (NYSE:RTX)

Bridgefront Capital LLC bought a new position in RTX Co. (NYSE:RTX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,780 shares of the company's stock, valued at approximately $322,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CX Institutional lifted its holdings in shares of RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company's stock valued at $7,539,000 after purchasing an additional 11,706 shares in the last quarter. National Pension Service boosted its holdings in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after acquiring an additional 375,781 shares during the last quarter. Czech National Bank grew its stake in shares of RTX by 6.5% in the fourth quarter. Czech National Bank now owns 288,591 shares of the company's stock worth $33,396,000 after acquiring an additional 17,608 shares during the period. Archer Investment Corp raised its holdings in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company's stock valued at $610,000 after purchasing an additional 4,151 shares during the last quarter. Finally, Optas LLC lifted its position in RTX by 114.5% during the fourth quarter. Optas LLC now owns 7,062 shares of the company's stock valued at $817,000 after purchasing an additional 3,770 shares during the period. Institutional investors own 86.50% of the company's stock.

RTX Trading Up 0.0 %

Shares of NYSE:RTX traded up $0.02 during trading on Friday, reaching $128.69. The company's stock had a trading volume of 4,857,374 shares, compared to its average volume of 5,413,352. The firm's 50 day simple moving average is $128.26 and its two-hundred day simple moving average is $123.91. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17. The stock has a market capitalization of $171.92 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The company 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%. On average, research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX's dividend payout ratio is presently 79.77%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RTX shares. Bank of America raised their price target on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. StockNews.com raised shares of RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research report on Wednesday, April 23rd. Finally, Citigroup lowered their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $161.06.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction 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 transaction, the vice president now owns 9,546 shares in the company, 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. Insiders sold a total of 69,946 shares of company stock worth $9,024,856 in the last quarter. 0.15% of the stock is owned by company insiders.

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.