Kovack Advisors Inc. Has $4.22 Million Stake in RTX Co. (NYSE:RTX)

Kovack Advisors Inc. boosted its holdings in shares of RTX Co. (NYSE:RTX) by 9.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,254 shares of the company’s stock after buying an additional 3,566 shares during the quarter. Kovack Advisors Inc.’s holdings in RTX were worth $4,219,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Gotham Asset Management LLC grew its position in shares of RTX by 86.9% in the third quarter. Gotham Asset Management LLC now owns 27,664 shares of the company’s stock valued at $1,991,000 after purchasing an additional 12,863 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of RTX by 5,145.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 23,971 shares of the company’s stock valued at $1,725,000 after purchasing an additional 23,514 shares during the last quarter. Ellerson Group Inc. ADV acquired a new stake in shares of RTX in the third quarter valued at about $141,000. ELCO Management Co. LLC grew its position in shares of RTX by 29.8% in the third quarter. ELCO Management Co. LLC now owns 12,706 shares of the company’s stock valued at $914,000 after purchasing an additional 2,918 shares during the last quarter. Finally, Earnest Partners LLC grew its position in shares of RTX by 48.9% in the third quarter. Earnest Partners LLC now owns 7,822 shares of the company’s stock valued at $563,000 after purchasing an additional 2,569 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

RTX traded up $0.33 during midday trading on Thursday, reaching $100.74. 2,149,212 shares of the company’s stock were exchanged, compared to its average volume of 6,524,184. The firm has a market capitalization of $133.93 billion, a price-to-earnings ratio of 39.51, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a one year low of $68.56 and a one year high of $108.65. The business has a 50-day simple moving average of $104.35 and a two-hundred day simple moving average of $95.95.

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

RTX Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on RTX. Barclays raised their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. 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 note on Friday, May 17th. Robert W. Baird increased their target price on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, 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 note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average target price of $98.33.

Insider Activity

In other news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction that occurred on 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 owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on 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 owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,937 shares of company stock worth $12,256,952. 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.