Los Angeles Capital Management LLC Acquires 97,587 Shares of RTX Co. (NYSE:RTX)

Los Angeles Capital Management LLC increased its holdings in RTX Co. (NYSE:RTX) by 196.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,313 shares of the company’s stock after acquiring an additional 97,587 shares during the quarter. Los Angeles Capital Management LLC’s holdings in RTX were worth $14,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC increased its stake in RTX by 26.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after purchasing an additional 28,910 shares in the last quarter. TCW Group Inc. bought a new stake in RTX during the 4th quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC bought a new stake in RTX during the 4th quarter valued at about $672,000. Mather Group LLC. increased its stake in RTX by 8.5% during the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Rockline Wealth Management LLC bought a new stake in RTX during the 4th quarter valued at about $2,438,000. 86.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on 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 sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 over the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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. TD Cowen raised their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Barclays raised their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. UBS Group raised their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company raised their price target on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $98.33.

RTX Price Performance

Shares of NYSE:RTX opened at $104.77 on Thursday. 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 $108.65. The company has a market capitalization of $139.29 billion, a P/E ratio of 41.09, a P/E/G ratio of 1.84 and a beta of 0.83. The firm’s 50 day simple moving average is $104.12 and its two-hundred day simple moving average is $94.50.

RTX (NYSE:RTX) last issued its quarterly earnings results 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. 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 the consensus estimate of $18.44 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio 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.