Chesley Taft & Associates LLC Acquires 46,399 Shares of RTX Co. (NYSE:RTX)

Chesley Taft & Associates LLC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 143.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,703 shares of the company’s stock after acquiring an additional 46,399 shares during the period. Chesley Taft & Associates LLC’s holdings in RTX were worth $7,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RTX. Bruce G. Allen Investments LLC grew its position in RTX by 7.9% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after purchasing an additional 106 shares in the last quarter. Jacobsen Capital Management grew its position in RTX by 3.0% in the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after purchasing an additional 114 shares in the last quarter. Diligent Investors LLC grew its position in RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after purchasing an additional 118 shares in the last quarter. Hummer Financial Advisory Services Inc grew its position in RTX by 1.7% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock worth $715,000 after purchasing an additional 120 shares in the last quarter. Finally, Lcnb Corp grew its position in RTX by 1.8% in the 4th quarter. Lcnb Corp now owns 7,065 shares of the company’s stock worth $594,000 after purchasing an additional 122 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

NYSE RTX traded down $0.64 on Thursday, hitting $100.63. The stock had a trading volume of 6,955,380 shares, compared to its average volume of 7,543,147. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market capitalization of $133.78 billion, a price-to-earnings ratio of 39.71, a price-to-earnings-growth ratio of 1.78 and a beta of 0.83. The firm has a 50-day moving average of $104.44 and a 200-day moving average of $95.30.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the prior year, the company posted $1.22 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Insider Activity

In other news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now 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 SEC, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RTX shares. Susquehanna upped their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Citigroup increased their target price on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. UBS Group increased their target price on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Barclays increased their target price on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their target price on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.33.

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.