Grimes & Company Inc. Purchases 8,207 Shares of RTX Co. (NYSE:RTX)

Grimes & Company Inc. grew its position in RTX Co. (NYSE:RTX) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,544 shares of the company’s stock after acquiring an additional 8,207 shares during the period. Grimes & Company Inc.’s holdings in RTX were worth $22,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bruce G. Allen Investments LLC grew its stake in shares of RTX by 7.9% during the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares during the last quarter. Jacobsen Capital Management increased its stake in shares of RTX by 3.0% in the 4th quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after buying an additional 114 shares during the period. Diligent Investors LLC raised its position in shares of RTX by 1.4% during the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after acquiring an additional 118 shares during the last quarter. Hummer Financial Advisory Services Inc lifted its stake in shares of RTX by 1.7% during the first quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock valued at $715,000 after acquiring an additional 120 shares during the period. Finally, Lcnb Corp boosted its holdings in RTX by 1.8% in the fourth quarter. Lcnb Corp now owns 7,065 shares of the company’s stock valued at $594,000 after acquiring an additional 122 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Insiders have sold 119,937 shares of company stock valued at $12,256,952 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on RTX shares. Wells Fargo & Company upped their target price on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Robert W. Baird increased their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America upped their target price on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.33.

RTX Stock Down 0.2 %

RTX stock traded down $0.23 during trading hours on Friday, reaching $100.39. 13,853,219 shares of the stock were exchanged, compared to its average volume of 6,408,701. The firm’s 50-day moving average is $104.42 and its 200-day moving average is $95.47. RTX Co. has a 12 month low of $68.56 and a 12 month high of $108.65. The company has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 1.77 and a beta of 0.83. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. On average, equities research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is 98.82%.

RTX 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.