NEOS Investment Management LLC Acquires 5,536 Shares of RTX Co. (NYSE:RTX)

NEOS Investment Management LLC lifted its position in shares of RTX Co. (NYSE:RTX - Free Report) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,269 shares of the company's stock after purchasing an additional 5,536 shares during the quarter. NEOS Investment Management LLC's holdings in RTX were worth $8,363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Millstone Evans Group LLC bought a new position in RTX during the fourth quarter worth about $39,000. Modus Advisors LLC acquired a new stake in RTX during the fourth quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter valued at approximately $40,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 19,431 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the sale, the executive vice president now owns 29,742 shares in the company, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

RTX has been the topic of several recent analyst reports. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. StockNews.com lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and upped their price objective for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. boosted their target price on RTX from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $166.40.

RTX Stock Down 1.3 %

Shares of NYSE:RTX traded down $1.75 during trading on Friday, hitting $131.68. 3,934,907 shares of the company's stock traded hands, compared to its average volume of 5,648,342. The company has a 50-day moving average price of $128.59 and a 200-day moving average price of $123.03. RTX Co. has a 52 week low of $97.03 and a 52 week high of $136.17. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market cap 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 (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.91%. RTX's dividend payout ratio is currently 70.99%.

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.