Kaydan Wealth Management Inc. Makes New $233,000 Investment in RTX Co. (NYSE:RTX)

Kaydan Wealth Management Inc. acquired a new stake in shares of RTX Co. (NYSE:RTX) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 1,927 shares of the company’s stock, valued at approximately $233,000.

A number of other hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management LLC raised its position in shares of RTX by 196.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 147,313 shares of the company’s stock valued at $14,367,000 after purchasing an additional 97,587 shares during the period. Alaska Permanent Fund Corp bought a new stake in RTX during the first quarter valued at about $42,000. St. Louis Financial Planners Asset Management LLC purchased a new position in shares of RTX in the first quarter valued at about $1,431,000. Wedmont Private Capital boosted its stake in shares of RTX by 10.9% in the first quarter. Wedmont Private Capital now owns 11,724 shares of the company’s stock worth $1,191,000 after acquiring an additional 1,152 shares during the period. Finally, Lantz Financial LLC purchased a new stake in shares of RTX during the first quarter worth about $249,000. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on RTX shares. JPMorgan Chase & Co. upped their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and an average target price of $162.50.

RTX Stock Performance

Shares of NYSE:RTX opened at $126.20 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 12 month low of $72.48 and a 12 month high of $126.82. The company has a market capitalization of $167.88 billion, a price-to-earnings ratio of 72.95, a PEG ratio of 2.21 and a beta of 0.82. The firm’s 50-day moving average is $120.50 and its 200 day moving average is $110.07.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 145.67%.

Insider Transactions at RTX

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

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.