BayBridge Capital Group LLC Acquires New Position in RTX Co. (NYSE:RTX)

BayBridge Capital Group LLC bought a new position in shares of RTX Co. (NYSE:RTX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 8,968 shares of the company’s stock, valued at approximately $1,038,000.

Other hedge funds also recently made changes to their positions in the company. Cidel Asset Management Inc. lifted its stake in RTX by 4.1% during the fourth quarter. Cidel Asset Management Inc. now owns 7,974 shares of the company’s stock worth $923,000 after purchasing an additional 312 shares during the last quarter. Conning Inc. raised its holdings in shares of RTX by 0.7% during the fourth quarter. Conning Inc. now owns 319,640 shares of the company’s stock worth $36,989,000 after purchasing an additional 2,181 shares during the period. Joel Isaacson & Co. LLC boosted its holdings in shares of RTX by 6.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 10,044 shares of the company’s stock valued at $1,162,000 after buying an additional 611 shares during the period. Shepherd Financial Partners LLC grew its position in shares of RTX by 1.8% during the 4th quarter. Shepherd Financial Partners LLC now owns 47,938 shares of the company’s stock valued at $5,547,000 after buying an additional 842 shares during the last quarter. Finally, Appleton Partners Inc. MA raised its stake in RTX by 6.5% during the fourth quarter. Appleton Partners Inc. MA now owns 4,395 shares of the company’s stock worth $509,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

RTX opened at $128.07 on Friday. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The company has a market capitalization of $170.60 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The business has a 50 day moving average price of $119.99 and a two-hundred day moving average price of $120.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Susquehanna upped their target price on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group upped their price target on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Bank of America lifted their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by company 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.