Yoffe Investment Management LLC Takes $269,000 Position in RTX Co. (NYSE:RTX)

Yoffe Investment Management LLC acquired a new stake in RTX Co. (NYSE:RTX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,323 shares of the company's stock, valued at approximately $269,000.

Several other large investors have also modified their holdings of the company. 1620 Investment Advisors Inc. boosted its holdings in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after acquiring an additional 79 shares during the period. Fusion Capital LLC boosted its holdings in shares of RTX by 0.5% in 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 during the period. McDonough Capital Management Inc boosted its holdings in shares of RTX by 1.6% in 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 during the period. New England Professional Planning Group Inc. boosted its holdings in shares of RTX by 3.8% in 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 during the period. Finally, Pointe Capital Management LLC boosted its holdings in shares of RTX by 0.5% in 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 during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

Shares of RTX stock traded down $1.33 during mid-day trading on Wednesday, reaching $132.86. The stock had a trading volume of 5,422,720 shares, compared to its average volume of 5,396,943. RTX Co. has a 12-month low of $99.07 and a 12-month high of $138.82. 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. The business has a 50-day simple moving average of $129.08 and a 200 day simple moving average of $124.95. 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 (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates 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%. On average, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share 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 given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following 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 trade represents a 25.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% 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 valued at $6,198,889. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RTX shares. Wells Fargo & Company increased their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Bank of America increased their price target on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average 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.