Brucke Financial Inc. Makes New $427,000 Investment in RTX Co. (NYSE:RTX)

Brucke Financial Inc. purchased a new position in shares of RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,692 shares of the company's stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of RTX. 10Elms LLP purchased a new stake in shares of RTX during the fourth quarter worth approximately $29,000. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management boosted its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new position in RTX in the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC acquired a new position in RTX in the fourth quarter valued at approximately $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Trading Up 1.5%

RTX stock traded up $1.99 during trading on Thursday, hitting $134.84. The company had a trading volume of 3,634,610 shares, compared to its average volume of 5,392,295. The company has a quick ratio of 0.74, a current ratio of 0.99 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 $138.82. The stock has a market cap of $180.14 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 2.11 and a beta of 0.60. The firm has a 50-day moving average price of $129.08 and a 200-day moving average price of $124.95.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This is a positive change 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 dividend yield of 2.02%. RTX's payout ratio is 79.77%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RTX. Royal Bank of Canada decreased their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Citigroup lowered their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $159.82.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of the business'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 completion of the sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.15% of the company's stock.

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.