Tidal Investments LLC Purchases 21,883 Shares of RTX Co. (NYSE:RTX)

Tidal Investments LLC boosted its position in RTX Co. (NYSE:RTX - Free Report) by 69.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,554 shares of the company's stock after purchasing an additional 21,883 shares during the quarter. Tidal Investments LLC's holdings in RTX were worth $6,197,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. raised its holdings in RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares in the last quarter. Fusion Capital LLC increased its holdings in shares of RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after acquiring an additional 80 shares in the last quarter. McDonough Capital Management Inc increased its holdings in shares of RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after acquiring an additional 80 shares in the last quarter. New England Professional Planning Group Inc. increased its holdings in shares of RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after acquiring an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC increased its holdings in shares of RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after acquiring an additional 81 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This represents a 35.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the completion of the transaction, the executive vice president now directly owns 29,742 shares of the company's stock, valued at approximately $3,771,880.44. This represents a 39.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock worth $9,024,856 in the last quarter. Corporate insiders own 0.15% of the company's stock.

RTX Trading Up 1.2%

RTX stock opened at $137.16 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $99.07 and a 12 month high of $137.72. The stock's 50 day simple moving average is $128.84 and its two-hundred day simple moving average is $124.35. The firm has a market cap of $183.24 billion, a PE ratio of 38.64, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $19.80 billion. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders 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. 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 1.98%. RTX's dividend payout ratio (DPR) is 79.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RTX shares. Wells Fargo & Company upped their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Citigroup cut their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. 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 research report on Monday, April 28th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. Three 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. According to MarketBeat, RTX currently has an average rating of "Buy" and a consensus target price of $159.82.

RTX Company 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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