Skylands Capital LLC Has $8.46 Million Stake in RTX Co. (NYSE:RTX)

Skylands Capital LLC boosted its stake in RTX Co. (NYSE:RTX) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,533 shares of the company’s stock after buying an additional 3,009 shares during the quarter. RTX makes up 1.2% of Skylands Capital LLC’s investment portfolio, making the stock its 22nd largest holding. Skylands Capital LLC’s holdings in RTX were worth $8,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in shares of RTX in the third quarter valued at about $355,350,000. Massachusetts Financial Services Co. MA grew its stake in shares of RTX by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after acquiring an additional 1,914,184 shares during the period. Van ECK Associates Corp lifted its holdings in shares of RTX by 8,331.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock valued at $127,120,000 after buying an additional 1,745,344 shares during the period. Sanders Capital LLC grew its stake in shares of RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of RTX by 12,753.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after buying an additional 1,389,143 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RTX shares. Robert W. Baird raised their target price on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Bank of America boosted their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. TD Cowen upped their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Royal Bank of Canada increased their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Finally, Wells Fargo & Company restated an “overweight” rating and set a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.27.

RTX Trading Up 0.9 %

RTX stock traded up $0.96 during mid-day trading on Monday, reaching $102.37. The company’s stock had a trading volume of 2,357,750 shares, compared to its average volume of 8,111,827. The company has a market cap of $136.10 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. RTX Co. has a 12 month low of $68.56 and a 12 month high of $103.89. The business’s 50 day moving average price is $95.57 and its 200 day moving average price is $87.71. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate 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 company posted $1.22 earnings per share. On average, equities research analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insider Buying and Selling 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 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 of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. 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 three months. 0.13% of the stock is currently owned by insiders.

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.