Cadent Capital Advisors LLC Raises Stake in RTX Corporation (NYSE:RTX)

Cadent Capital Advisors LLC lifted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 379.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,673 shares of the company's stock after purchasing an additional 11,614 shares during the period. Cadent Capital Advisors LLC's holdings in RTX were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 10Elms LLP acquired a new position in RTX during the 4th quarter worth about $29,000. Fairway Wealth LLC acquired a new position in shares of RTX in the fourth quarter worth 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 acquiring an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new stake in RTX during the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RTX. 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. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Wall Street Zen raised RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX has an average rating of "Buy" and an average target price of $159.82.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company'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 transaction, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents 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 owned by insiders.

RTX Stock Down 1.8%

RTX stock traded down $2.67 during midday trading on Thursday, reaching $145.81. 7,110,436 shares of the company's stock traded hands, compared to its average volume of 5,436,611. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26. The company has a market cap of $194.80 billion, a price-to-earnings ratio of 42.76, a P/E/G ratio of 2.64 and a beta of 0.63. The firm's fifty day moving average price is $133.06 and its 200-day moving average price is $127.23. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

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

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

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.