SKY Mountain Capital Management Inc. Takes $734,000 Position in RTX Corporation (NYSE:RTX)

SKY Mountain Capital Management Inc. bought a new stake in RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,542 shares of the company's stock, valued at approximately $734,000. RTX comprises approximately 0.6% of SKY Mountain Capital Management Inc.'s investment portfolio, making the stock its 17th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in RTX during the 1st quarter worth approximately $26,000. 10Elms LLP acquired a new stake in shares of RTX during the fourth quarter worth approximately $29,000. Picton Mahoney Asset Management lifted its stake in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC bought a new position in RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX during the fourth quarter worth $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RTX. The Goldman Sachs Group raised their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. UBS Group raised their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price target on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and a consensus target price of $164.28.

RTX Trading Up 1.0%

NYSE:RTX traded up $1.53 during mid-day trading on Thursday, hitting $151.70. The company had a trading volume of 4,322,916 shares, compared to its average volume of 5,275,475. RTX Corporation has a fifty-two week low of $102.62 and a fifty-two week high of $151.97. The business's fifty day moving average is $140.44 and its two-hundred day moving average is $130.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market cap of $202.66 billion, a P/E ratio of 44.49, a P/E/G ratio of 2.76 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. As a group, research analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.79%. RTX's payout ratio is presently 79.77%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on 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 directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred 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 sale, the vice president directly owned 9,546 shares of the company's stock, valued at approximately $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 currently owned by company insiders.

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.