Milestone Asset Management Group LLC Invests $2.66 Million in RTX Co. (NYSE:RTX)

Milestone Asset Management Group LLC purchased a new position 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 (SEC). The fund purchased 22,985 shares of the company's stock, valued at approximately $2,660,000. RTX comprises 2.4% of Milestone Asset Management Group LLC's investment portfolio, making the stock its 13th largest position.

A number of other hedge funds also recently bought and sold shares of the business. Fire Capital Management LLC bought a new stake in RTX in the fourth quarter worth $552,000. Prostatis Group LLC lifted its holdings in shares of RTX by 27.3% in the 4th quarter. Prostatis Group LLC now owns 6,238 shares of the company's stock worth $722,000 after acquiring an additional 1,338 shares during the last quarter. Chancellor Financial Group WB LP purchased a new position in shares of RTX during the 4th quarter worth about $286,000. 111 Capital purchased a new stake in RTX in the 4th quarter worth about $1,416,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in RTX by 49.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 985,262 shares of the company's stock worth $114,014,000 after purchasing an additional 325,667 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RTX shares. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and upped their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Citigroup dropped their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Finally, 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. 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's stock. According to data from MarketBeat, RTX has a consensus rating of "Buy" and a consensus target price of $159.82.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX 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 completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.15% of the stock is currently owned by insiders.

RTX Stock Performance

RTX stock traded up $1.63 during mid-day trading on Friday, reaching $136.43. 8,195,041 shares of the company traded hands, compared to its average volume of 5,407,527. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $139.92. The firm's fifty day moving average is $129.09 and its two-hundred day moving average is $125.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market capitalization of $182.26 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

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 return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, equities research analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's dividend 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.