Cullen Investment Group LTD. Buys Shares of 10,018 RTX Co. (NYSE:RTX)

Cullen Investment Group LTD. acquired a new position in shares of RTX Co. (NYSE:RTX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,018 shares of the company’s stock, valued at approximately $843,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RTX. Cary Street Partners Investment Advisory LLC raised its holdings in RTX by 26.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after purchasing an additional 28,910 shares in the last quarter. Rockline Wealth Management LLC bought a new stake in RTX during the fourth quarter worth approximately $2,438,000. B&D White Capital Company LLC bought a new stake in RTX during the third quarter worth approximately $14,186,000. Hurlow Wealth Management Group Inc. bought a new stake in RTX during the fourth quarter worth approximately $206,000. Finally, Cape Cod Five Cents Savings Bank raised its holdings in RTX by 23.0% during the third quarter. Cape Cod Five Cents Savings Bank now owns 27,622 shares of the company’s stock worth $1,988,000 after purchasing an additional 5,159 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

RTX Stock Down 0.1 %

RTX stock opened at $100.02 on Tuesday. The firm has a market cap of $132.99 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 1.82 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $104.91. The firm has a fifty day moving average price of $93.79 and a two-hundred day moving average price of $85.82.

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

RTX Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. TD Cowen upped their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. 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 note 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 note on Monday, January 22nd. Bank of America upgraded shares of RTX from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Finally, Barclays boosted their price target on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.44.

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.