Chapin Davis Inc. Raises Position in RTX Co. (NYSE:RTX)

Chapin Davis Inc. lifted its stake in RTX Co. (NYSE:RTX) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,866 shares of the company’s stock after purchasing an additional 660 shares during the period. Chapin Davis Inc.’s holdings in RTX were worth $1,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RTX. Capital Research Global Investors increased its holdings in RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after acquiring an additional 17,351,313 shares in the last quarter. Capital International Investors lifted its position in shares of RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of RTX by 82.7% in 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 acquiring an additional 6,932,011 shares during the period. Sanders Capital LLC grew its position in shares of RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares in the last quarter. Finally, Norges Bank bought a new stake in RTX during the 4th quarter valued at approximately $690,154,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated 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 of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory Hayes sold 89,762 shares of RTX 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 completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by corporate insiders.

RTX Price Performance

RTX stock opened at $100.39 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The firm has a 50-day moving average of $104.42 and a two-hundred day moving average of $95.65. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion during 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%. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 earnings per share. On average, research analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is 98.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RTX shares. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Bank of America raised their price target on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Citigroup upped their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $98.33.

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.