Sharpepoint LLC Invests $1.03 Million in RTX Co. (NYSE:RTX)

Sharpepoint LLC bought a new stake in RTX Co. (NYSE:RTX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 8,863 shares of the company's stock, valued at approximately $1,026,000.

A number of other large investors also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of RTX by 8.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,916 shares of the company's stock valued at $222,000 after purchasing an additional 142 shares during the period. MML Investors Services LLC boosted its holdings in shares of RTX by 3.3% during the 4th quarter. MML Investors Services LLC now owns 387,638 shares of the company's stock worth $44,857,000 after buying an additional 12,368 shares during the period. MetLife Investment Management LLC grew its position in shares of RTX by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 352,275 shares of the company's stock valued at $40,765,000 after purchasing an additional 6,381 shares during the last quarter. Norinchukin Bank The increased its position in RTX by 11.7% during the 4th quarter. Norinchukin Bank The now owns 62,868 shares of the company's stock worth $7,275,000 after buying an additional 6,610 shares during the period. Finally, Capital International Inc. CA boosted its holdings in RTX by 5.6% in the 4th quarter. Capital International Inc. CA now owns 288,507 shares of the company's stock valued at $33,386,000 after purchasing an additional 15,403 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company's 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 completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last quarter. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RTX shares. Susquehanna cut their target price on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday. Citigroup lowered their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. UBS Group increased their target price on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Vertical Research raised RTX to a "strong-buy" rating in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $163.53.

RTX Stock Up 0.8 %

RTX stock traded up $0.95 during trading on Thursday, reaching $121.23. 1,681,514 shares of the company traded hands, compared to its average volume of 5,383,396. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $161.86 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The business has a 50 day simple moving average of $128.29 and a 200 day simple moving average of $123.75. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 2.08%. RTX's payout ratio is 70.99%.

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.