Wedge Capital Management L L P NC Takes $239,000 Position in RTX Co. (NYSE:RTX)

Wedge Capital Management L L P NC bought a new stake in shares of RTX Co. (NYSE:RTX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,843 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds have also modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the fourth quarter valued at $25,000. Planned Solutions Inc. purchased a new stake in RTX in the 4th quarter worth about $30,000. Strengthening Families & Communities LLC purchased a new stake in RTX in the 3rd quarter worth about $28,000. Financial Gravity Asset Management Inc. lifted its stake in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after acquiring an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in RTX in the 4th quarter worth about $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock opened at $101.40 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. The company has a market capitalization of $134.81 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. RTX Co. has a one year low of $68.56 and a one year high of $103.89. The business has a 50 day simple moving average of $95.57 and a 200 day simple moving average of $87.51.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $1.22 EPS. On average, sell-side analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. RTX’s dividend payout ratio is 92.55%.

Insider Buying and Selling

In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the completion of the sale, the chief financial officer now owns 49,894 shares in the company, valued at approximately $4,608,209.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at approximately $4,608,209.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. 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 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RTX. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup upped their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Finally, Barclays upped their target price on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average target price of $96.27.

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.