Legacy Capital Group California Inc. Buys 778 Shares of RTX Co. (NYSE:RTX)

Legacy Capital Group California Inc. boosted its stake in RTX Co. (NYSE:RTX) by 11.3% in the 3rd quarter, Holdings Channel reports. The firm owned 7,683 shares of the company’s stock after acquiring an additional 778 shares during the quarter. Legacy Capital Group California Inc.’s holdings in RTX were worth $931,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in RTX in the 2nd quarter valued at $30,837,000. Capital Advisors Ltd. LLC raised its position in RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock valued at $239,000 after purchasing an additional 166 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in RTX by 126.9% during the first 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. Cetera Investment Advisers increased its position in shares of RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after purchasing an additional 232,103 shares during the last quarter. Finally, Susquehanna International Securities Ltd. purchased a new position in shares of RTX during the 2nd quarter valued at about $602,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,856 shares of company stock worth $17,131,253. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $125.18 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market capitalization of $166.52 billion, a price-to-earnings ratio of 35.77, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a 50 day simple moving average of $121.59 and a two-hundred day simple moving average of $111.12. RTX Co. has a fifty-two week low of $77.76 and a fifty-two week high of $128.70.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a return on equity of 11.96% and a net margin of 5.97%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. Analysts expect that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RTX shares. JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Susquehanna boosted their price target on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday. Wells Fargo & Company decreased their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and lifted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Melius Research raised their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $168.56.

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.