Carmel Capital Management L.L.C. Has $10.49 Million Stock Holdings in RTX Corporation (NYSE:RTX)

Carmel Capital Management L.L.C. grew its holdings in RTX Corporation (NYSE:RTX) by 1.1% during the 1st quarter, Holdings Channel reports. The firm owned 79,196 shares of the company’s stock after purchasing an additional 850 shares during the period. RTX makes up approximately 4.3% of Carmel Capital Management L.L.C.’s portfolio, making the stock its 10th biggest position. Carmel Capital Management L.L.C.’s holdings in RTX were worth $10,490,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC increased its holdings in RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares in the last quarter. Norges Bank acquired a new position in RTX during the 4th quarter worth approximately $1,745,644,000. Finally, Northern Trust Corp lifted its position in shares of RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company’s stock worth $1,494,257,000 after purchasing an additional 997,806 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

RTX Stock Up 0.9%

Shares of RTX stock opened at $145.80 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12-month low of $99.42 and a 12-month high of $149.26. The company has a market cap of $194.78 billion, a P/E ratio of 42.76, a PEG ratio of 2.61 and a beta of 0.64. The company’s fifty day simple moving average is $136.83 and its two-hundred day simple moving average is $129.07.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Research analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX’s dividend payout ratio (DPR) is 79.77%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Cowen reaffirmed a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Citigroup decreased their price target on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Finally, DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.12.

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.