Sky Investment Group LLC Grows Stock Holdings in RTX Co. (NYSE:RTX)

Sky Investment Group LLC lifted its position in shares of RTX Co. (NYSE:RTX) by 0.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,811 shares of the company’s stock after buying an additional 80 shares during the quarter. RTX makes up 2.0% of Sky Investment Group LLC’s holdings, making the stock its 12th largest holding. Sky Investment Group LLC’s holdings in RTX were worth $10,704,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after buying an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC grew its holdings in RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC grew its holdings in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after purchasing an additional 576,214 shares during the last quarter. Franklin Resources Inc. grew its holdings in RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after purchasing an additional 603,159 shares during the last quarter. Finally, Norges Bank bought a new position in RTX during the 4th quarter valued at about $1,745,644,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on RTX shares. JPMorgan Chase & Co. cut their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their target price on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada dropped their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $159.82.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Down 0.6%

NYSE:RTX opened at $140.92 on Friday. RTX Co. has a 52 week low of $99.07 and a 52 week high of $149.94. The firm has a 50 day moving average of $130.91 and a 200 day moving average of $126.33. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $188.26 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. As a group, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is currently 79.77%.

RTX 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.