Red Cedar Investment Management LLC Has $2.25 Million Stock Holdings in RTX Corporation (NYSE:RTX)

Red Cedar Investment Management LLC raised its stake in RTX Corporation (NYSE:RTX - Free Report) by 67.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,003 shares of the company's stock after buying an additional 6,867 shares during the quarter. Red Cedar Investment Management LLC's holdings in RTX were worth $2,252,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RTX. 10Elms LLP acquired a new position in RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new position in shares of RTX during the 4th quarter worth $31,000. Picton Mahoney Asset Management increased its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC bought a new position in RTX in the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX in the 4th quarter worth $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred on 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 now owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Price Performance

Shares of NYSE:RTX opened at $144.64 on Monday. The stock has a market capitalization of $193.23 billion, a PE ratio of 42.42, a PEG ratio of 2.61 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $134.87 and a 200-day moving average of $128.46. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results 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. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, equities research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.88%. RTX's payout ratio is 79.77%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RTX shares. Susquehanna decreased their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group boosted their price target on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Citigroup dropped their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Wells Fargo & Company boosted their price target on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $161.12.

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.

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