Cypress Asset Management Inc. TX Buys Shares of 32,310 RTX Co. (NYSE:RTX)

Cypress Asset Management Inc. TX bought a new stake in RTX Co. (NYSE:RTX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 32,310 shares of the company's stock, valued at approximately $3,785,000.

Several other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. lifted its position in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after buying an additional 79 shares during the last quarter. Fusion Capital LLC increased its stake in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after acquiring an additional 80 shares during the last quarter. McDonough Capital Management Inc increased its stake in RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after acquiring an additional 80 shares during the last quarter. New England Professional Planning Group Inc. increased its stake in RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock worth $253,000 after acquiring an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC increased its position in shares of RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the subject of several analyst reports. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Vertical Research upgraded RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $159.82.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available 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. Over the last three months, insiders have sold 47,643 shares of company stock worth $6,198,889. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

NYSE:RTX traded down $1.33 during mid-day trading on Wednesday, hitting $132.86. 5,422,720 shares of the company traded hands, compared to its average volume of 5,396,942. The stock's fifty day moving average price is $129.07 and its 200-day moving average price is $124.90. RTX Co. has a one year low of $99.07 and a one year high of $138.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $177.49 billion, a price-to-earnings ratio of 37.43, 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. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's payout ratio is currently 79.77%.

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.