Shorepoint Capital Partners LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

Shorepoint Capital Partners LLC raised its position in RTX Co. (NYSE:RTX) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,060 shares of the company’s stock after purchasing an additional 845 shares during the period. RTX comprises about 1.6% of Shorepoint Capital Partners LLC’s investment portfolio, making the stock its 17th largest position. Shorepoint Capital Partners LLC’s holdings in RTX were worth $7,066,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc purchased a new position in shares of RTX during the 3rd quarter worth about $321,000. Tudor Financial Inc. purchased a new position in RTX during the third quarter worth approximately $797,000. World Investment Advisors LLC boosted its holdings in shares of RTX by 37.1% in the 3rd quarter. World Investment Advisors LLC now owns 40,809 shares of the company’s stock valued at $4,944,000 after purchasing an additional 11,033 shares during the last quarter. Sfmg LLC grew its stake in shares of RTX by 4.7% during the 3rd quarter. Sfmg LLC now owns 73,978 shares of the company’s stock valued at $8,963,000 after buying an additional 3,306 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of RTX by 365.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 115,237 shares of the company’s stock worth $13,962,000 after buying an additional 90,499 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on RTX shares. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, UBS Group boosted their price target on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $161.38.

RTX Price Performance

NYSE:RTX opened at $125.43 on Friday. The firm has a market cap of $167.46 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company’s 50-day moving average price is $128.31 and its two-hundred day moving average price is $123.74. 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 $136.17.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $19.80 billion. On average, equities analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 73.90%.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. Company insiders own 0.15% of the company’s stock.

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.