Rafferty Asset Management LLC Increases Stock Holdings in RTX Co. (NYSE:RTX)

Rafferty Asset Management LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 301,764 shares of the company’s stock after acquiring an additional 29,545 shares during the quarter. Rafferty Asset Management LLC’s holdings in RTX were worth $34,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Fairway Wealth LLC purchased a new position in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its holdings in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC purchased a new position in shares of RTX in the fourth quarter valued at about $34,000. Millstone Evans Group LLC purchased a new stake in shares of RTX during the fourth quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in RTX in the 4th quarter worth approximately $40,000. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Susquehanna cut their target price on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and increased their target price for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company boosted their price target on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $159.82.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,946 shares of company stock valued at $9,024,856 over the last 90 days. Insiders own 0.15% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $130.82 on Thursday. The stock has a market capitalization of $174.77 billion, a PE ratio of 36.85, a PEG ratio of 2.11 and a beta of 0.60. The company has a 50 day moving average price of $128.37 and a 200-day moving average price of $124.03. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is 79.77%.

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.