Forum Financial Management LP Boosts Position in RTX Co. (NYSE:RTX)

Forum Financial Management LP boosted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 41.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,020 shares of the company's stock after acquiring an additional 5,596 shares during the period. Forum Financial Management LP's holdings in RTX were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. 10Elms LLP acquired a new stake in RTX during the fourth quarter worth approximately $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management grew its stake in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC acquired a new position in RTX during the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX during the 4th quarter worth approximately $39,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RTX shares. UBS Group lifted their price target on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Susquehanna decreased their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of "Buy" and a consensus target price of $159.82.

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 transaction, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.15% of the company's stock.

RTX Price Performance

NYSE RTX traded up $1.69 during trading hours on Thursday, reaching $134.54. The company's stock had a trading volume of 1,508,966 shares, compared to its average volume of 5,382,467. The stock has a market cap of $179.74 billion, a PE ratio of 37.90, a PEG ratio of 2.11 and a beta of 0.60. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $138.82. The company's 50-day moving average is $129.08 and its two-hundred day moving average is $124.95. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping 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 company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. Analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business 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 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 dividend yield of 2.02%. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio is presently 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.