Castlekeep Investment Advisors LLC Acquires New Position in RTX Co. (NYSE:RTX)

Castlekeep Investment Advisors LLC bought a new stake in RTX Co. (NYSE:RTX) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 10,349 shares of the company’s stock, valued at approximately $1,198,000.

A number of other hedge funds have also made changes to their positions in the company. 10Elms LLP purchased a new stake in RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new position in RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in RTX in the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.3%

Shares of NYSE:RTX opened at $132.38 on Friday. The firm has a market cap of $176.85 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company has a fifty day simple moving average of $129.13 and a 200 day simple moving average of $124.72. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $99.07 and a 12-month high of $138.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio is 79.77%.

Analyst Ratings Changes

RTX has been the subject of several analyst reports. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. UBS Group boosted their target price on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company increased their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Finally, Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $159.82.

Insider Transactions at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’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 transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This trade represents a 35.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,946 shares of company stock worth $9,024,856. 0.15% of the stock is currently owned by insiders.

RTX 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.