Avity Investment Management Inc. Raises Stake in RTX Co. (NYSE:RTX)

Avity Investment Management Inc. lifted its stake in RTX Co. (NYSE:RTX) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,243 shares of the company’s stock after purchasing an additional 50,987 shares during the quarter. RTX comprises approximately 3.1% of Avity Investment Management Inc.’s holdings, making the stock its 16th largest position. Avity Investment Management Inc.’s holdings in RTX were worth $37,768,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RTX. Bruce G. Allen Investments LLC increased its holdings in shares of 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 lifted its holdings in shares of RTX by 3.0% during the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after buying an additional 114 shares during the period. Diligent Investors LLC increased its position in RTX by 1.4% during the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after acquiring an additional 118 shares during the last quarter. Hummer Financial Advisory Services Inc boosted its position in RTX by 1.7% in the first 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 during the last quarter. Finally, Lcnb Corp grew its position in RTX by 1.8% during the fourth quarter. Lcnb Corp now owns 7,065 shares of the company’s stock valued at $594,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RTX. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays raised their price objective 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. Susquehanna increased their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, UBS Group increased their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.33.

Insiders Place Their Bets

In related news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated 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 directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 over the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Trading Down 0.2 %

NYSE:RTX traded down $0.23 during midday trading on Friday, hitting $100.39. 13,853,219 shares of the company traded hands, compared to its average volume of 6,408,701. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The firm has a market capitalization of $133.47 billion, a P/E ratio of 39.37, a P/E/G ratio of 1.77 and a beta of 0.83. The firm’s fifty day moving average is $104.42 and its 200-day moving average is $95.47.

RTX (NYSE:RTX) last released 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 firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the business earned $1.22 EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.