TBH Global Asset Management LLC Decreases Stake in RTX Co. (NYSE:RTX)

TBH Global Asset Management LLC lessened its stake in shares of RTX Co. (NYSE:RTX) by 16.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,119 shares of the company’s stock after selling 2,846 shares during the quarter. TBH Global Asset Management LLC’s holdings in RTX were worth $1,188,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Team Hewins LLC bought a new stake in shares of RTX during the 4th quarter valued at about $773,000. Oxford Asset Management LLP bought a new stake in shares of RTX during the 4th quarter valued at about $535,000. Cypress Asset Management Inc. TX bought a new stake in shares of RTX during the 4th quarter valued at about $2,767,000. Avantax Planning Partners Inc. boosted its position in shares of RTX by 6.4% during the 4th quarter. Avantax Planning Partners Inc. now owns 9,922 shares of the company’s stock valued at $835,000 after acquiring an additional 601 shares during the last quarter. Finally, TCW Group Inc. bought a new stake in RTX in the 4th quarter worth approximately $1,912,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, 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 value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Stephen J. Timm sold 19,880 shares of the firm’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 directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 120,042 shares of company stock worth $12,266,459 in the last ninety days. Insiders own 0.13% of the company’s stock.

RTX Stock Up 0.8 %

Shares of NYSE RTX traded up $0.86 during mid-day trading on Friday, hitting $106.27. The company had a trading volume of 3,405,978 shares, compared to its average volume of 7,767,593. The company has a market capitalization of $141.29 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The business’s 50-day simple moving average is $100.78 and its 200 day simple moving average is $91.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 1-year low of $68.56 and a 1-year high of $107.82.

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

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a $0.63 dividend. The ex-dividend date is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a yield of 2.37%. RTX’s payout ratio is 98.82%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RTX. Citigroup boosted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna boosted their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. UBS Group upped their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird boosted their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus price target of $98.33.

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.