Cypress Asset Management Inc. TX Buys New Shares in RTX Co. (NYSE:RTX)

Cypress Asset Management Inc. TX purchased a new stake in RTX Co. (NYSE:RTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 32,885 shares of the company's stock, valued at approximately $2,767,000.

Several other hedge funds also recently made changes to their positions in the stock. Avantax Planning Partners Inc. grew its position in shares of RTX by 6.4% in the fourth quarter. Avantax Planning Partners Inc. now owns 9,922 shares of the company's stock valued at $835,000 after purchasing an additional 601 shares in the last quarter. TCW Group Inc. bought a new stake in RTX during the fourth quarter valued at $1,912,000. SageView Advisory Group LLC bought a new stake in RTX during the fourth quarter valued at $1,485,000. Prospector Partners LLC boosted its stake in RTX by 0.5% during the fourth quarter. Prospector Partners LLC now owns 75,545 shares of the company's stock valued at $6,356,000 after buying an additional 410 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in RTX by 1.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 315,592 shares of the company's stock valued at $26,554,000 after buying an additional 4,424 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RTX shares. UBS Group lifted their price objective on RTX from $103.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, April 24th. Bank of America lifted their price target on RTX from $100.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their price target on RTX from $94.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Wells Fargo & Company lifted their price target on RTX from $119.00 to $141.00 and gave the stock an "overweight" rating in a research note on Friday, May 17th. Finally, TD Cowen lifted their price target on RTX from $106.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, RTX currently has a consensus rating of "Hold" and a consensus price target of $98.33.

Insider Buying and Selling

In related news, insider Stephen J. Timm sold 19,880 shares of the company's stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the company's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares of the company's stock, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the company's stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold 120,042 shares of company stock worth $12,266,459 in the last 90 days. Insiders own 0.13% of the company's stock.

RTX Trading Down 0.8 %

NYSE:RTX traded down $0.88 during mid-day trading on Thursday, reaching $105.43. 5,787,049 shares of the company's stock traded hands, compared to its average volume of 7,818,697. RTX Co. has a 12-month low of $68.56 and a 12-month high of $107.82. The firm has a market capitalization of $140.17 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 1.85 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a 50 day moving average price of $100.78 and a 200-day moving average price of $91.12.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 EPS. On average, sell-side analysts predict that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.39%. This is an increase from RTX's previous quarterly dividend of $0.59. RTX's dividend payout ratio is presently 98.82%.

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.