RTX Co. (NYSE:RTX) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP raised its position in RTX Co. (NYSE:RTX - Free Report) by 41.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,020 shares of the company's stock after purchasing 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 hedge funds and other institutional investors have also modified their holdings of the company. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Fairway Wealth LLC acquired a new stake in RTX during the 4th quarter worth $31,000. Picton Mahoney Asset Management lifted its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new position in RTX in the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX during the fourth quarter worth about $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was 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 owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,643 shares of company stock worth $6,198,889. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research reports. Benchmark raised 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. Citigroup cut their price target on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $159.82.

RTX Stock Performance

Shares of RTX stock traded down $1.33 during trading hours on Wednesday, reaching $132.86. 5,422,720 shares of the company's stock were exchanged, compared to its average volume of 5,395,897. 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's 50 day moving average is $129.07 and its two-hundred day moving average is $124.90. The company has a market cap of $177.49 billion, a P/E ratio of 37.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a 1 year low of $99.07 and a 1 year high of $138.82.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given 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 2.05%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's 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.