Magnus Financial Group LLC Acquires 593 Shares of RTX Co. (NYSE:RTX)

Magnus Financial Group LLC lifted its holdings in RTX Co. (NYSE:RTX) by 6.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,335 shares of the company’s stock after purchasing an additional 593 shares during the period. Magnus Financial Group LLC’s holdings in RTX were worth $870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobsen Capital Management increased its holdings in RTX by 3.0% in the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after acquiring an additional 114 shares in the last quarter. Diligent Investors LLC increased its holdings in RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after acquiring an additional 118 shares in the last quarter. Valley National Advisers Inc. grew its holdings in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after buying an additional 127 shares in the last quarter. Dempze Nancy E grew its holdings in RTX by 0.5% during the 3rd quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock valued at $2,075,000 after buying an additional 130 shares in the last quarter. Finally, Chicago Capital LLC grew its holdings in RTX by 0.8% during the 4th quarter. Chicago Capital LLC now owns 15,810 shares of the company’s stock valued at $1,330,000 after buying an additional 130 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup increased their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 price objective on shares of RTX in a report on Monday, April 1st. Susquehanna raised their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. TD Cowen raised their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $96.27.

RTX Stock Up 0.2 %

Shares of RTX opened at $101.60 on Monday. The firm has a market capitalization of $135.08 billion, a P/E ratio of 39.77, a P/E/G ratio of 1.83 and a beta of 0.88. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $95.57 and a 200-day moving average price of $87.71.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Buying and Selling

In related news, 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 value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, 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 value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. 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 over the last three months. 0.13% of the stock is owned by company insiders.

RTX Company 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.