Pekin Hardy Strauss Inc. Has $887,000 Stake in RTX Co. (NYSE:RTX)

Pekin Hardy Strauss Inc. reduced its position in shares of RTX Co. (NYSE:RTX) by 31.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,547 shares of the company’s stock after selling 4,749 shares during the period. Pekin Hardy Strauss Inc.’s holdings in RTX were worth $887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new position in shares of RTX during the 4th quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new position in shares of RTX in the 3rd quarter valued at about $28,000. Planned Solutions Inc. bought a new stake in shares of RTX in the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. lifted its stake in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at $5,252,769.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RTX shares. Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Barclays raised their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 price target on shares of RTX in a report on Monday, April 1st. TD Cowen boosted their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Finally, Susquehanna boosted their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus price target of $96.93.

RTX Stock Performance

Shares of NYSE:RTX opened at $101.53 on Wednesday. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The stock has a market capitalization of $134.98 billion, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company’s 50 day simple moving average is $95.80 and its 200 day simple moving average is $87.92.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the company posted $1.22 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. RTX’s payout ratio is currently 92.55%.

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.