Cadinha & Co. LLC Buys Shares of 2,615 RTX Co. (NYSE:RTX)

Cadinha & Co. LLC purchased a new position in RTX Co. (NYSE:RTX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,615 shares of the company’s stock, valued at approximately $317,000.

A number of other large investors also recently bought and sold shares of RTX. RFG Advisory LLC grew its stake in RTX by 96.1% during the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after buying an additional 19,779 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in RTX in the second quarter worth approximately $30,837,000. Capital Advisors Ltd. LLC grew its holdings in RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after purchasing an additional 166 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after acquiring an additional 98,248 shares during the last quarter. Finally, CWM LLC boosted its position in shares of RTX by 7.2% in the first quarter. CWM LLC now owns 126,970 shares of the company’s stock valued at $12,383,000 after acquiring an additional 8,493 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

NYSE:RTX traded down $0.35 during trading hours on Thursday, hitting $123.60. The company’s stock had a trading volume of 450,011 shares, compared to its average volume of 6,880,197. The business’s 50-day moving average is $119.58 and its two-hundred day moving average is $109.11. The company has a market capitalization of $164.33 billion, a PE ratio of 48.60, a PEG ratio of 2.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $72.29 and a 52-week high of $125.93.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. As a group, research analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.04%. RTX’s payout ratio is currently 98.82%.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. Melius Research boosted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, TD Cowen raised shares of RTX to a “strong-buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $161.13.

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.