Fire Capital Management LLC Invests $552,000 in RTX Co. (NYSE:RTX)

Fire Capital Management LLC purchased a new stake in shares of RTX Co. (NYSE:RTX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,767 shares of the company's stock, valued at approximately $552,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Norges Bank purchased a new stake in shares of RTX in the 4th quarter worth about $1,745,644,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi lifted its holdings in shares of RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. Capital Wealth Planning LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $216,340,000. Finally, Invesco Ltd. boosted its holdings in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock worth $1,175,457,000 after acquiring an additional 1,522,251 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RTX. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their price target on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Royal Bank of Canada dropped their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $159.82.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by insiders.

RTX Trading Up 1.2%

RTX traded up $1.63 on Friday, hitting $136.43. The company had a trading volume of 8,195,041 shares, compared to its average volume of 5,407,527. The business's fifty day simple moving average is $129.09 and its 200 day simple moving average is $125.12. RTX Co. has a 12-month low of $99.07 and a 12-month high of $139.92. The company has a market cap of $182.26 billion, a PE ratio of 38.43, a PEG ratio of 2.11 and a beta of 0.60. 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 (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Equities research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid 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 is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.99%. RTX's payout ratio is presently 79.77%.

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.