Adell Harriman & Carpenter Inc. Buys 648 Shares of RTX Co. (NYSE:RTX)

Adell Harriman & Carpenter Inc. increased its stake in RTX Co. (NYSE:RTX) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 57,809 shares of the company’s stock after buying an additional 648 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in RTX were worth $4,864,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RTX. Northern Trust Corp boosted its stake in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after purchasing an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after acquiring an additional 60,319 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after acquiring an additional 1,682,928 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in RTX by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after buying an additional 1,914,184 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in RTX by 9.8% in the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock worth $479,744,000 after purchasing an additional 593,305 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other RTX news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The shares were 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 $614,711.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold a total of 37,785 shares of company stock worth $3,448,188 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on RTX shares. UBS Group boosted their price target on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average price target of $96.27.

RTX Price Performance

Shares of NYSE RTX traded up $1.03 during trading on Monday, hitting $102.44. The company had a trading volume of 4,469,583 shares, compared to its average volume of 8,139,437. The business’s 50-day moving average is $95.57 and its 200 day moving average is $87.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The company has a market cap of $136.20 billion, a P/E ratio of 39.77, a PEG ratio of 1.83 and a beta of 0.88.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. Equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.30%. RTX’s dividend payout ratio (DPR) is presently 92.55%.

RTX Company 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.