Koshinski Asset Management Inc. Buys Shares of 18,799 RTX Co. (NYSE:RTX)

by · The Cerbat Gem

Koshinski Asset Management Inc. purchased a new position in shares of RTX Co. (NYSE:RTX – Free Report) during the third quarter, HoldingsChannel.com reports. The fund purchased 18,799 shares of the company’s stock, valued at approximately $2,278,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RTX. RFG Advisory LLC raised its stake in RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in RTX in the 2nd quarter worth approximately $30,837,000. Capital Advisors Ltd. LLC boosted its stake in RTX by 7.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after purchasing an additional 166 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after purchasing an additional 98,248 shares during the last quarter. Finally, CWM LLC increased its stake in RTX by 7.2% during the 1st quarter. CWM LLC now owns 126,970 shares of the company’s stock valued at $12,383,000 after purchasing an additional 8,493 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded up $0.99 during trading hours on Friday, hitting $123.93. 2,556,167 shares of the company’s stock were exchanged, compared to its average volume of 5,653,164. RTX Co. has a fifty-two week low of $72.29 and a fifty-two week high of $125.93. The firm has a market cap of $164.86 billion, a P/E ratio of 71.64, a P/E/G ratio of 2.18 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $119.86 and a two-hundred day moving average of $109.49.

RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. Sell-side analysts forecast that RTX Co. will post 5.46 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.03%. RTX’s payout ratio is currently 145.67%.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $162.50.

Get Our Latest Analysis on RTX

About RTX

(Free Report)

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.

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