Neo Ivy Capital Management Acquires Shares of 15,876 RTX Corporation (NYSE:RTX)

Key Points

• Neo Ivy Capital Management has acquired a new stake in RTX Corporation, purchasing 15,876 shares valued at approximately $2.1 million.
• Recent insider transactions show significant stock sales by executives, with VP Amy L. Johnson and EVP Dantaya M. Williams decreasing their positions by 30.28% and 50.57%, respectively.
• The stock has seen an increase in target price estimates from several analysts, with UBS Group raising its target from $166.00 to $177.00 and maintaining a "buy" rating.

Neo Ivy Capital Management bought a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,876 shares of the company's stock, valued at approximately $2,103,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in RTX during the 1st quarter valued at $26,000. 10Elms LLP bought a new position in shares of RTX in the fourth quarter worth $29,000. Greenline Partners LLC purchased a new stake in shares of RTX in the fourth quarter worth $34,000. Mpwm Advisory Solutions LLC bought a new stake in RTX during the fourth quarter valued at $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in RTX during the first quarter worth about $50,000. Institutional investors own 86.50% of the company's stock.

RTX Trading Up 1.1%

NYSE RTX traded up $1.64 during trading on Friday, hitting $156.86. 4,727,235 shares of the company's stock traded hands, compared to its average volume of 4,909,235. The stock has a fifty day moving average of $143.48 and a two-hundred day moving average of $132.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $157.33. The firm has a market cap of $209.96 billion, a P/E ratio of 34.47, a PEG ratio of 2.86 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.73%. RTX's dividend payout ratio is currently 59.78%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RTX shares. Wells Fargo & Company boosted 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. Morgan Stanley boosted their target price on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Cowen restated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Finally, UBS Group boosted their target price on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $154.88.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,530 shares of company stock worth $3,080,191. Company insiders own 0.15% of the company's stock.

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.