Morton Capital Management LLC CA Increases Position in RTX Co. (NYSE:RTX)

Morton Capital Management LLC CA lifted its position in shares of RTX Co. (NYSE:RTX) by 18.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,851 shares of the company’s stock after buying an additional 588 shares during the quarter. Morton Capital Management LLC CA’s holdings in RTX were worth $467,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter valued at approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX during the second quarter valued at approximately $41,000. Finally, Alaska Permanent Fund Corp purchased a new position in shares of RTX in the first quarter worth $42,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $123.82 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The company has a 50 day moving average price of $119.58 and a 200-day moving average price of $109.11. RTX Co. has a fifty-two week low of $72.29 and a fifty-two week high of $125.93. The stock has a market capitalization of $164.62 billion, a PE ratio of 48.60, a PEG ratio of 2.20 and a beta of 0.82.

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

RTX Announces Dividend

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

Insider Activity

In related news, 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 transaction of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. This trade represents a 0.00 % decrease in their position. The transaction 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 company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RTX. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.