Douglas Lane & Associates LLC Increases Position in RTX Co. (NYSE:RTX)

Douglas Lane & Associates LLC lifted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 398,829 shares of the company's stock after buying an additional 4,334 shares during the period. Douglas Lane & Associates LLC's holdings in RTX were worth $48,322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Briaud Financial Planning Inc raised its holdings in shares of 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 buying an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the second quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new position in RTX during the 2nd quarter valued at about $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of RTX during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX stock traded up $0.99 during midday trading on Friday, hitting $123.93. The company had a trading volume of 2,556,167 shares, compared to its average volume of 5,653,164. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1-year low of $72.29 and a 1-year high of $125.93. The business's 50 day simple moving average is $119.86 and its two-hundred day simple moving average is $109.58. The stock has a market cap of $164.77 billion, a PE ratio of 48.60, a P/E/G ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share 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 the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 earnings per share. As a group, equities analysts predict that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.03%. RTX's dividend payout ratio (DPR) is presently 98.82%.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company'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 owns 88,509 shares of the company's stock, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction 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 completion of the sale, the chief executive officer now owns 88,509 shares of the company's stock, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. 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. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RTX. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, July 26th. Susquehanna raised their target price on RTX from $119.00 to $140.00 and gave the stock a "positive" rating in a research report on Friday, July 26th. Alembic Global Advisors raised RTX from a "neutral" rating to an "overweight" rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Finally, Citigroup raised their price objective on RTX from $122.00 to $132.00 and gave the stock a "neutral" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $162.50.

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.