Means Investment CO. Inc. Has $1.88 Million Stock Position in RTX Co. (NYSE:RTX)

Means Investment CO. Inc. raised its position in shares of RTX Co. (NYSE:RTX) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,546 shares of the company’s stock after purchasing an additional 159 shares during the period. Means Investment CO. Inc.’s holdings in RTX were worth $1,884,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Alaska Permanent Fund Corp acquired a new position in shares of RTX during the first quarter worth $42,000. &PARTNERS increased its holdings in shares of RTX by 64.7% during the first quarter. &PARTNERS now owns 5,991 shares of the company’s stock worth $584,000 after buying an additional 2,353 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of RTX during the first quarter worth $169,000. Global Assets Advisory LLC acquired a new position in shares of RTX during the first quarter worth $7,523,000. Finally, Harbor Investment Advisory LLC increased its holdings in shares of RTX by 9.5% during the first quarter. Harbor Investment Advisory LLC now owns 13,994 shares of the company’s stock worth $1,365,000 after buying an additional 1,210 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE RTX opened at $125.92 on Friday. The firm’s 50-day moving average price is $120.91 and its 200-day moving average price is $110.46. RTX Co. has a 1-year low of $72.48 and a 1-year high of $127.00. The firm has a market capitalization of $167.41 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. RTX’s dividend payout ratio is presently 98.82%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RTX shares. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. TD Cowen raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Citigroup boosted their price objective on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Robert W. Baird boosted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $162.50.

Insider Buying and Selling

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 value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last quarter. Insiders own 0.13% of the company’s stock.

About RTX

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.