Novem Group Takes $812,000 Position in RTX Co. (NYSE:RTX)

Novem Group acquired a new stake in shares of RTX Co. (NYSE:RTX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,015 shares of the company's stock, valued at approximately $812,000.

Several other hedge funds have also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. raised its holdings in RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after acquiring an additional 79 shares in the last quarter. Fusion Capital LLC raised its holdings in RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after acquiring an additional 80 shares in the last quarter. McDonough Capital Management Inc raised its holdings in RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after acquiring an additional 80 shares in the last quarter. New England Professional Planning Group Inc. raised its holdings in RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after acquiring an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC raised its holdings in RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock worth $2,047,000 after purchasing an additional 81 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX stock traded down $1.70 during trading hours on Friday, reaching $132.38. The company's stock had a trading volume of 5,509,922 shares, compared to its average volume of 5,396,730. The company's 50 day simple moving average is $129.13 and its 200 day simple moving average is $124.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a one year low of $99.07 and a one year high of $138.82. The stock has a market cap of $176.85 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, analysts expect that RTX Co. will post 6.11 EPS for the current fiscal 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 dividend of $0.68 per share. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 2.05%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Analysts Set New Price Targets

Several analysts have recently weighed in on RTX shares. Wells Fargo & Company boosted their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. UBS Group boosted their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Citigroup reduced their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Benchmark upgraded shares of 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. Finally, Royal Bank of Canada reduced their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of "Buy" and an average target price of $159.82.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This represents a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,946 shares of company stock valued at $9,024,856. Company insiders own 0.15% of the company's stock.

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.