MJP Associates Inc. ADV Increases Position in RTX Co. (NYSE:RTX)

MJP Associates Inc. ADV raised its holdings in shares of RTX Co. (NYSE:RTX) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,917 shares of the company’s stock after acquiring an additional 372 shares during the quarter. MJP Associates Inc. ADV’s holdings in RTX were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Czech National Bank grew its holdings in RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares in the last quarter. Aprio Wealth Management LLC increased its stake in RTX by 8.6% in the 4th quarter. Aprio Wealth Management LLC now owns 2,883 shares of the company’s stock worth $334,000 after purchasing an additional 229 shares in the last quarter. Thomasville National Bank increased its position in shares of RTX by 1.7% during the fourth quarter. Thomasville National Bank now owns 208,419 shares of the company’s stock valued at $24,118,000 after purchasing an additional 3,558 shares during the period. CHICAGO TRUST Co NA lifted its stake in RTX by 11.2% in the fourth quarter. CHICAGO TRUST Co NA now owns 12,935 shares of the company’s stock valued at $1,497,000 after buying an additional 1,299 shares during the period. Finally, Agate Pass Investment Management LLC boosted its stake in shares of RTX by 45.0% during the 4th quarter. Agate Pass Investment Management LLC now owns 20,867 shares of the company’s stock worth $2,415,000 after acquiring an additional 6,475 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 0.0%

NYSE:RTX opened at $128.69 on Monday. The company has a market capitalization of $171.92 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.11 and a beta of 0.60. 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 stock’s 50 day moving average price is $128.26 and its 200 day moving average price is $123.90. RTX Co. has a 52 week low of $99.07 and a 52 week high of $136.17.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for 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, research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, May 23rd. RTX’s payout ratio is 79.77%.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred 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 in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares in the company, 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 have sold 69,946 shares of company stock worth $9,024,856. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTX. Royal Bank of Canada decreased their price target on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. UBS Group lifted their price target on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Bank of America boosted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $161.06.

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.