Forum Financial Management LP Has $2.20 Million Stock Holdings in RTX Co. (NYSE:RTX)

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

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

Insider Buying and Selling at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This represents a 25.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,643 shares of company stock worth $6,198,889. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

RTX has been the topic of several analyst reports. Bank of America upped their target price on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. Wells Fargo & Company increased their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Finally, Citigroup cut their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $159.82.

RTX Stock Performance

Shares of RTX stock traded up $1.86 during mid-day trading on Tuesday, hitting $134.21. 5,160,033 shares of the stock were exchanged, compared to its average volume of 5,395,785. The stock's fifty day simple moving average is $129.07 and its two-hundred day simple moving average is $124.83. The stock has a market capitalization of $179.30 billion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 2.11 and a beta of 0.60. RTX Co. has a 12-month low of $99.07 and a 12-month high of $138.82. 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 announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, 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. Investors of record on Friday, May 23rd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) 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.