POM Investment Strategies LLC Raises Holdings in RTX Co. (NYSE:RTX)

POM Investment Strategies LLC lifted its holdings in RTX Co. (NYSE:RTX) by 13.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,613 shares of the company’s stock after purchasing an additional 188 shares during the quarter. POM Investment Strategies LLC’s holdings in RTX were worth $162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lynx Investment Advisory bought a new stake in shares of RTX in the second quarter worth approximately $26,000. Fairman Group LLC purchased a new position in shares of RTX in the 4th quarter worth $38,000. Beaird Harris Wealth Management LLC grew its holdings in shares of RTX by 42.2% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares during the period. USA Financial Formulas increased its position in RTX by 510.3% during the fourth quarter. USA Financial Formulas now owns 476 shares of the company’s stock valued at $40,000 after acquiring an additional 398 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in RTX by 758.9% in the fourth quarter. True Wealth Design LLC now owns 481 shares of the company’s stock valued at $40,000 after acquiring an additional 425 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

Shares of NYSE RTX traded up $0.50 during midday trading on Friday, reaching $118.52. 3,427,510 shares of the stock traded hands, compared to its average volume of 7,215,377. The company’s 50 day moving average is $108.59 and its 200 day moving average is $102.24. RTX Co. has a one year low of $68.56 and a one year high of $118.99. 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 capitalization of $157.57 billion, a PE ratio of 46.48, a P/E/G ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share. On average, equities research analysts anticipate that RTX Co. will post 5.44 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Analysts Set New Price Targets

RTX has been the topic of several recent research reports. Barclays increased their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $153.47.

Insider Activity at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% 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.