Assetmark Inc. Boosts Stake in RTX Co. (NYSE:RTX)

Assetmark Inc. lifted its holdings in shares of RTX Co. (NYSE:RTX) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,525 shares of the company’s stock after purchasing an additional 2,217 shares during the quarter. Assetmark Inc.’s holdings in RTX were worth $9,468,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the fourth quarter worth $25,000. Planned Solutions Inc. acquired a new stake in RTX during the 4th quarter worth $30,000. Financial Gravity Asset Management Inc. boosted its stake in RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of RTX during the fourth quarter worth about $38,000. Finally, Valley National Advisers Inc. grew its stake in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,042 shares of company stock worth $12,266,459. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. UBS Group raised their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Bank of America upped their target price on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Susquehanna upped their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RTX has a consensus rating of “Hold” and an average price target of $98.33.

RTX Stock Performance

Shares of RTX stock opened at $106.25 on Thursday. The stock has a fifty day moving average price of $100.50 and a 200 day moving average price of $91.02. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market cap of $141.26 billion, a PE ratio of 41.69, a P/E/G ratio of 1.85 and a beta of 0.84. RTX Co. has a 1 year low of $68.56 and a 1 year high of $107.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the firm earned $1.22 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from RTX’s previous quarterly dividend of $0.59. RTX’s dividend payout ratio (DPR) is currently 98.82%.

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.