Hoey Investments Inc. Acquires 554 Shares of RTX Co. (NYSE:RTX)

Hoey Investments Inc. boosted its stake in shares of RTX Co. (NYSE:RTX) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,284 shares of the company’s stock after acquiring an additional 554 shares during the quarter. Hoey Investments Inc.’s holdings in RTX were worth $727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alliancebernstein L.P. grew its holdings in shares of RTX by 22.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,477,658 shares of the company’s stock worth $518,155,000 after purchasing an additional 813,629 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in RTX during the fourth quarter worth about $590,000. FSB Premier Wealth Management Inc. increased its holdings in shares of RTX by 27.0% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,157 shares of the company’s stock worth $481,000 after buying an additional 885 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of RTX by 17.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 530,488 shares of the company’s stock valued at $61,388,000 after acquiring an additional 78,102 shares during the last quarter. Finally, RWA Wealth Partners LLC boosted its holdings in shares of RTX by 0.6% in the 4th quarter. RWA Wealth Partners LLC now owns 227,769 shares of the company’s stock worth $26,357,000 after acquiring an additional 1,371 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

Shares of RTX stock opened at $131.68 on Monday. The firm has a market capitalization of $175.81 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a 12-month low of $97.03 and a 12-month high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $128.59 and a 200-day moving average of $123.06.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Analyst Ratings Changes

Several equities analysts have issued reports on RTX shares. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating in a research report on Monday, March 24th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Argus raised RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and increased their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus target price of $166.40.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 over the last ninety days. Company insiders own 0.15% of the company’s stock.

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.