Baring Financial LLC Takes $209,000 Position in RTX Co. (NYSE:RTX)

Baring Financial LLC purchased a new stake in shares of RTX Co. (NYSE:RTX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,577 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently made changes to their positions in RTX. National Pension Service raised its holdings in RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after purchasing an additional 375,781 shares in the last quarter. Deutsche Bank AG lifted its position in RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after purchasing an additional 936,953 shares during the period. Archer Investment Corp lifted its position in RTX by 370.3% in the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after purchasing an additional 4,151 shares during the period. Optas LLC lifted its position in RTX by 114.5% in the fourth quarter. Optas LLC now owns 7,062 shares of the company’s stock worth $817,000 after purchasing an additional 3,770 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its position in RTX by 43.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock worth $3,046,000 after purchasing an additional 7,987 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction on 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 directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

Shares of NYSE:RTX opened at $134.84 on Friday. The company’s fifty day moving average is $129.08 and its two-hundred day moving average is $125.03. The company has a quick ratio of 0.74, a current ratio of 0.99 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 $139.92. The company has a market cap of $180.14 billion, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. Equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.02%. RTX’s dividend payout ratio is 79.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Wells Fargo & Company upped 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. JPMorgan Chase & Co. cut their target price on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. UBS Group upped their target price on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Citigroup dropped their price target on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $159.82.

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.