Applied Capital LLC FL Grows Stake in RTX Co. (NYSE:RTX)

Applied Capital LLC FL grew its position in RTX Co. (NYSE:RTX) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,744 shares of the company’s stock after purchasing an additional 141 shares during the quarter. Applied Capital LLC FL’s holdings in RTX were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Research Global Investors lifted its position in RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors grew its stake in shares of RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares during the period. Norges Bank purchased a new stake in shares of RTX in the 4th quarter valued at approximately $690,154,000. Massachusetts Financial Services Co. MA grew its stake in shares of RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock valued at $341,710,000 after buying an additional 2,294,908 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following 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 SEC, which is available at the SEC website. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly 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 accessible through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s 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 sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock valued at $12,256,952 in the last quarter. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RTX shares. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company upped their price objective on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. UBS Group upped their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America upped their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird increased their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.33.

RTX Stock Performance

RTX traded up $0.87 during trading on Tuesday, reaching $100.42. 4,131,272 shares of the company’s stock were exchanged, compared to its average volume of 7,541,801. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average price of $104.38 and a 200 day moving average price of $95.78. The company has a market capitalization of $133.51 billion, a P/E ratio of 39.04, a PEG ratio of 1.76 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating 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 company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the previous year, the company earned $1.22 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

RTX 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.