Broderick Brian C Has $11.47 Million Holdings in RTX Co. (NYSE:RTX)

Broderick Brian C boosted its stake in shares of RTX Co. (NYSE:RTX) by 8.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 117,612 shares of the company’s stock after purchasing an additional 9,620 shares during the quarter. RTX accounts for about 2.5% of Broderick Brian C’s holdings, making the stock its 19th biggest position. Broderick Brian C’s holdings in RTX were worth $11,471,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new position in shares of RTX in the 4th quarter valued at about $25,000. Planned Solutions Inc. acquired a new position in shares of RTX in the 4th quarter valued at about $30,000. Financial Gravity Asset Management Inc. increased its holdings in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in shares of RTX in the 4th quarter valued at approximately $38,000. Finally, Fairman Group LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RTX shares. Bank of America boosted their price target on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company boosted their price target on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Robert W. Baird boosted their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Finally, Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Hold” and an average target price of $98.33.

Insiders Place Their Bets

In other news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s 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 in the company, valued at $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock worth $12,256,952 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Performance

Shares of NYSE RTX traded up $1.06 during trading hours on Thursday, reaching $101.74. The stock had a trading volume of 7,592,411 shares, compared to its average volume of 7,509,102. The business’s fifty day moving average is $104.24 and its two-hundred day moving average is $96.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market cap of $135.26 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 1.76 and a beta of 0.82. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same period in the prior year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.48%. RTX’s dividend payout ratio is currently 98.82%.

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.