RTX Co. (NYSE:RTX) Shares Bought by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group raised its position in shares of RTX Co. (NYSE:RTX - Free Report) by 91.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,973 shares of the company's stock after buying an additional 8,112 shares during the period. Rehmann Capital Advisory Group's holdings in RTX were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Navigoe LLC acquired a new position in RTX during the 4th quarter worth $128,000. Connors Investor Services Inc. grew its position in shares of RTX by 2.6% during the fourth quarter. Connors Investor Services Inc. now owns 140,781 shares of the company's stock worth $16,291,000 after buying an additional 3,520 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of RTX during the fourth quarter worth approximately $103,000. Voleon Capital Management LP acquired a new stake in RTX in the fourth quarter valued at approximately $227,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in RTX by 271.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 147,234 shares of the company's stock worth $17,038,000 after acquiring an additional 107,581 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RTX. Vertical Research upgraded shares of RTX to a "strong-buy" rating in a report on Tuesday, January 28th. StockNews.com raised RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $161.06.

Insider Buying and Selling

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of NYSE RTX traded up $2.89 during mid-day trading on Friday, hitting $130.30. 5,002,098 shares of the company were exchanged, compared to its average volume of 5,448,821. The firm has a market cap of $174.07 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The stock has a 50 day simple moving average of $128.48 and a 200-day simple moving average of $123.82. The company has a quick ratio of 0.74, a current ratio of 0.99 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 $136.17.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. On average, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal 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 paid a $0.68 dividend. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 2.09%. RTX's dividend payout ratio (DPR) is 73.90%.

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.