Sunbeam Capital Management LLC Purchases Shares of 2,552 RTX Co. (NYSE:RTX)

Sunbeam Capital Management LLC acquired a new position in RTX Co. (NYSE:RTX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,552 shares of the company's stock, valued at approximately $295,000.

Several other large investors also recently added to or reduced their stakes in the company. National Pension Service grew its holdings in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after buying an additional 375,781 shares in the last quarter. Deutsche Bank AG lifted its position in RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares during the last quarter. Archer Investment Corp lifted its position in RTX by 370.3% in the 4th quarter. Archer Investment Corp now owns 5,272 shares of the company's stock worth $610,000 after buying an additional 4,151 shares during the last quarter. Optas LLC lifted its position in RTX by 114.5% in the 4th quarter. Optas LLC now owns 7,062 shares of the company's stock worth $817,000 after buying an additional 3,770 shares during the last quarter. Finally, Thoroughbred Financial Services LLC increased its stake in RTX by 43.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after purchasing an additional 7,987 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Price Performance

NYSE RTX traded down $1.33 during trading on Wednesday, hitting $132.86. 5,422,720 shares of the stock traded hands, compared to its average volume of 5,396,942. The company has a market capitalization 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. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a 50-day simple moving average of $129.07 and a 200-day simple moving average of $124.90. RTX Co. has a 12-month low of $99.07 and a 12-month high of $138.82.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. As a group, analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared 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. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, May 23rd. RTX's dividend payout ratio (DPR) is currently 79.77%.

Analyst Ratings Changes

RTX has been the topic of a number of analyst reports. Royal Bank of Canada decreased their price target on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company boosted their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a report on Wednesday, April 23rd. Finally, Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $159.82.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was 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. The trade was a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,643 shares of company stock worth $6,198,889. 0.15% of the stock is currently owned by company insiders.

About RTX

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.