Hummer Financial Advisory Services Inc Acquires New Shares in RTX Co. (NYSE:RTX)

Hummer Financial Advisory Services Inc acquired a new stake in shares of RTX Co. (NYSE:RTX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,748 shares of the company's stock, valued at approximately $894,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RTX. National Pension Service lifted its holdings in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after acquiring an additional 375,781 shares during the period. Deutsche Bank AG increased its position in RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares in the last quarter. Archer Investment Corp increased its position in RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company's stock worth $610,000 after buying an additional 4,151 shares in the last quarter. Optas LLC increased its position in RTX by 114.5% in the fourth quarter. Optas LLC now owns 7,062 shares of the company's stock worth $817,000 after buying an additional 3,770 shares in the last quarter. Finally, Thoroughbred Financial Services LLC increased its position in RTX by 43.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after buying an additional 7,987 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RTX shares. JPMorgan Chase & Co. reduced their price target on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Wall Street Zen upgraded RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Susquehanna cut their target price on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company increased their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Three research 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 stock. According to MarketBeat, RTX presently has a consensus rating of "Buy" and an average price target of $159.82.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.

RTX Stock Performance

RTX traded up $0.06 during midday trading on Tuesday, hitting $137.52. 3,492,136 shares of the company were exchanged, compared to its average volume of 5,371,959. The company's 50 day simple moving average is $129.15 and its 200 day simple moving average is $125.30. The firm has a market capitalization of $183.72 billion, a price-to-earnings ratio of 38.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 1-year low of $99.07 and a 1-year high of $138.82.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently disclosed 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 positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, May 23rd. RTX's payout ratio is 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.