InterOcean Capital Group LLC Has $859,000 Stock Position in RTX Co. (NYSE:RTX)

InterOcean Capital Group LLC raised its position in shares of RTX Co. (NYSE:RTX) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,215 shares of the company’s stock after purchasing an additional 463 shares during the quarter. InterOcean Capital Group LLC’s holdings in RTX were worth $859,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RTX. Massachusetts Financial Services Co. MA raised its stake in RTX by 82.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the last quarter. Northern Trust Corp lifted its stake in shares of RTX by 1.9% in the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after purchasing an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of RTX by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares in the last quarter. Sanders Capital LLC grew its stake in RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the period. Finally, Norges Bank bought a new stake in RTX in the fourth quarter worth approximately $690,154,000. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated Friday, May 10th. The stock was 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 directly owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,042 shares of company stock worth $12,266,459. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Cowen raised their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Susquehanna increased their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Bank of America boosted their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird raised their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $98.33.

RTX Price Performance

Shares of NYSE RTX traded down $0.26 during midday trading on Thursday, hitting $106.05. 1,442,655 shares of the company’s stock were exchanged, compared to its average volume of 7,773,292. The business’s fifty day moving average price is $100.50 and its two-hundred day moving average price is $91.02. The company has a market cap of $140.99 billion, a price-to-earnings ratio of 41.69, a PEG ratio of 1.85 and a beta of 0.84. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $107.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $1.22 EPS. As a group, research analysts forecast that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. This is a boost from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is 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.