EdgeRock Capital LLC Invests $823,000 in RTX Co. (NYSE:RTX)

EdgeRock Capital LLC purchased a new stake in shares of RTX Co. (NYSE:RTX) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 6,789 shares of the company’s stock, valued at approximately $823,000. RTX comprises about 0.6% of EdgeRock Capital LLC’s investment portfolio, making the stock its 24th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Moody National Bank Trust Division grew its position in RTX by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 14,885 shares of the company’s stock worth $1,452,000 after acquiring an additional 404 shares during the last quarter. CWM LLC grew its holdings in shares of RTX by 7.2% during the first quarter. CWM LLC now owns 126,970 shares of the company’s stock worth $12,383,000 after purchasing an additional 8,493 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of RTX by 196.2% in the first quarter. Los Angeles Capital Management LLC now owns 147,313 shares of the company’s stock valued at $14,367,000 after buying an additional 97,587 shares during the period. Lynch & Associates IN raised its holdings in RTX by 3.9% in the 1st quarter. Lynch & Associates IN now owns 31,751 shares of the company’s stock valued at $3,097,000 after buying an additional 1,200 shares during the last quarter. Finally, Woodstock Corp boosted its position in RTX by 5.4% during the 1st quarter. Woodstock Corp now owns 153,182 shares of the company’s stock worth $14,940,000 after buying an additional 7,901 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE RTX opened at $124.92 on Wednesday. The firm has a market capitalization of $166.08 billion, a P/E ratio of 48.99, a P/E/G ratio of 2.18 and a beta of 0.82. The firm’s 50-day moving average price is $120.26 and its 200-day moving average price is $109.96. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 1-year low of $72.48 and a 1-year high of $126.82.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the prior year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts anticipate that RTX Co. will post 5.46 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.02%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird raised their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Melius Research upped their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $162.50.

Insiders Place Their Bets

In other news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

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.