GAMMA Investing LLC Makes New $794,000 Investment in RTX Co. (NYSE:RTX)

GAMMA Investing LLC acquired a new position in shares of RTX Co. (NYSE:RTX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,712 shares of the company’s stock, valued at approximately $794,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC increased its holdings in shares of RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after acquiring an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $2,438,000. B&D White Capital Company LLC bought a new stake in shares of RTX in the 3rd quarter valued at approximately $14,186,000. Cullen Investment Group LTD. bought a new stake in shares of RTX in the 4th quarter valued at approximately $843,000. Finally, Hurlow Wealth Management Group Inc. bought a new stake in shares of RTX in the 4th quarter valued at approximately $206,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 0.2 %

RTX stock traded down $0.22 during mid-day trading on Tuesday, hitting $101.34. The company’s stock had a trading volume of 8,567,400 shares, compared to its average volume of 8,264,439. The firm’s 50 day moving average is $94.76 and its 200 day moving average is $86.89. The company has a market cap of $134.75 billion, a PE ratio of 45.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the prior year, the business earned $1.27 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio is 105.36%.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock valued at $3,448,188 in the last 90 days. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. UBS Group upped their price objective on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Royal Bank of Canada increased their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. TD Cowen increased their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Barclays increased their target price on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.40.

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.