Forum Financial Management LP Increases Stake in RTX Co. (NYSE:RTX)

Forum Financial Management LP raised its holdings in shares of RTX Co. (NYSE:RTX) by 41.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,020 shares of the company’s stock after acquiring an additional 5,596 shares during the quarter. Forum Financial Management LP’s holdings in RTX were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RTX. Norges Bank bought a new position in shares of RTX in the fourth quarter worth approximately $1,745,644,000. Amundi lifted its stake in shares of RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the period. Capital Wealth Planning LLC purchased a new stake in RTX in the 4th quarter worth $216,340,000. Finally, Invesco Ltd. raised its holdings in RTX by 17.6% during the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock valued at $1,175,457,000 after acquiring an additional 1,522,251 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.3 %

Shares of RTX stock opened at $128.89 on Friday. The company has a market cap of $172.07 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock’s 50 day simple moving average is $128.59 and its two-hundred day simple moving average is $123.83. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17.

RTX (NYSE:RTX) 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 return on equity of 12.45% and a net margin of 5.91%. Research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.96%. RTX’s payout ratio is 70.99%.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction 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 sale, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last ninety days. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RTX shares. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Susquehanna lifted their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Four 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 company’s stock. According to data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $165.27.

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.