Chicago Capital LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

Chicago Capital LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 3.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 16,393 shares of the company’s stock after acquiring an additional 472 shares during the period. Chicago Capital LLC’s holdings in RTX were worth $1,986,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc lifted its holdings in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX during the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX in the 2nd quarter worth about $41,000. Finally, ORG Wealth Partners LLC purchased a new stake in RTX during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $125.92 on Friday. The company has a market capitalization of $167.41 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 52 week low of $72.48 and a 52 week high of $127.00. The stock’s fifty day moving average is $120.91 and its two-hundred day moving average is $110.46.

RTX (NYSE:RTX) last posted 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 net margin of 3.12% and a return on equity of 11.37%. The company 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 company posted $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts expect that RTX Co. will post 5.45 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 98.82%.

Insiders Place Their Bets

In related 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 in the company, 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 can be accessed through this hyperlink. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Gregory Hayes sold 134,887 shares of the company’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 directly owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research reports. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Melius Research boosted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong 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 $162.50.

About RTX

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.