Highland Capital Management LLC Grows Stake in RTX Co. (NYSE:RTX)

Highland Capital Management LLC grew its position in RTX Co. (NYSE:RTX) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,386 shares of the company’s stock after purchasing an additional 815 shares during the quarter. Highland Capital Management LLC’s holdings in RTX were worth $10,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP purchased a new position in RTX in the first quarter worth $28,000. VitalStone Financial LLC lifted its stake in shares of RTX by 136.5% during the second quarter. VitalStone Financial LLC now owns 369 shares of the company’s stock worth $36,000 after buying an additional 213 shares during the period. Strengthening Families & Communities LLC acquired a new stake in shares of RTX during the third quarter worth $28,000. Financial Gravity Asset Management Inc. lifted its stake in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of RTX during the fourth quarter worth $47,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $120.00 in a research note on Thursday, March 14th. UBS Group boosted their target price on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Royal Bank of Canada boosted their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Robert W. Baird restated a “neutral” rating and set a $94.00 target price (up from $88.00) on shares of RTX in a research report on Tuesday, January 16th. Finally, TD Cowen boosted their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.12.

RTX Stock Up 1.4 %

RTX opened at $97.45 on Thursday. RTX Co. has a twelve month low of $68.56 and a twelve month high of $104.91. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $91.16 and a 200 day moving average price of $83.42. The company has a market cap of $129.57 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts expect that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.42%. RTX’s payout ratio is 105.36%.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other RTX news, COO Christopher T. Calio sold 367 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,785 shares of company stock worth $3,448,188. Insiders own 0.13% of the company’s stock.

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.