Waverly Advisors LLC Increases Stock Holdings in RTX Co. (NYSE:RTX)

Waverly Advisors LLC increased its position in shares of RTX Co. (NYSE:RTX - Free Report) by 50.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,643 shares of the company's stock after purchasing an additional 13,318 shares during the period. Waverly Advisors LLC's holdings in RTX were worth $4,588,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RTX. CX Institutional raised its holdings in RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company's stock worth $7,539,000 after purchasing an additional 11,706 shares in the last quarter. National Pension Service raised its stake in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock worth $330,910,000 after acquiring an additional 375,781 shares in the last quarter. Deutsche Bank AG boosted its stake in RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after acquiring an additional 936,953 shares in the last quarter. Archer Investment Corp grew its holdings in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company's stock worth $610,000 after purchasing an additional 4,151 shares during the last quarter. Finally, Optas LLC increased its position in shares of RTX by 114.5% during the fourth quarter. Optas LLC now owns 7,062 shares of the company's stock worth $817,000 after purchasing an additional 3,770 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Price Performance

Shares of RTX traded down $1.70 during mid-day trading on Monday, hitting $132.38. The company's stock had a trading volume of 5,509,922 shares, compared to its average volume of 5,396,730. 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 1-year low of $99.07 and a 1-year high of $138.82. The firm has a market capitalization of $176.85 billion, a P/E ratio of 37.29, a P/E/G ratio of 2.11 and a beta of 0.60. The firm has a 50-day simple moving average of $129.13 and a 200 day simple moving average of $124.77.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 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 company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Analysts predict 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 yield of 2.05%. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio is presently 79.77%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RTX. UBS Group upped their target price on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Vertical Research raised RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Finally, Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Three equities 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. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $159.82.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares of the company's stock, valued at $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. Over the last three months, insiders sold 67,074 shares of company stock valued at $8,663,128. Corporate insiders own 0.15% of the company's stock.

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.