OMC Financial Services LTD Makes New Investment in RTX Co. (NYSE:RTX)

OMC Financial Services LTD bought a new position in shares of RTX Co. (NYSE:RTX) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,708 shares of the company’s stock, valued at approximately $459,000.

A number of other large investors have also recently added to or reduced their stakes in RTX. Capital Research Global Investors lifted its holdings in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors lifted its holdings in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares during the last quarter. Finally, Sanders Capital LLC lifted its holdings in shares of RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after buying an additional 677,520 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated 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 approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 198,213 shares of company stock worth $22,963,593 over the last 90 days. Insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded down $0.30 during trading hours on Friday, hitting $116.44. 4,578,404 shares of the company’s stock were exchanged, compared to its average volume of 6,574,825. The stock’s 50-day moving average is $105.54 and its 200-day moving average is $99.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market cap of $154.81 billion, a price-to-earnings ratio of 45.66, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.30.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 earnings per share. As a group, research analysts forecast that RTX Co. will post 5.44 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is 98.82%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Robert W. Baird upped their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a research note on Wednesday. UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Melius Research upped their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group upped their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $153.47.

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.