OMC Financial Services LTD Invests $459,000 in RTX Co. (NYSE:RTX)

OMC Financial Services LTD purchased a new stake in RTX Co. (NYSE:RTX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,708 shares of the company’s stock, valued at approximately $459,000.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in RTX by 41.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,558 shares of the company’s stock worth $1,072,000 after acquiring an additional 3,108 shares in the last quarter. Hamilton Wealth LLC purchased a new position in RTX during the 1st quarter valued at about $417,000. Pathway Financial Advisers LLC bought a new stake in shares of RTX in the 1st quarter valued at approximately $2,458,000. Birmingham Capital Management Co. Inc. AL lifted its holdings in RTX by 5.4% in the 1st quarter. Birmingham Capital Management Co. Inc. AL now owns 57,179 shares of the company’s stock worth $5,577,000 after purchasing an additional 2,904 shares during the last quarter. Finally, Soltis Investment Advisors LLC lifted its holdings in RTX by 1.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 13,413 shares of the company’s stock worth $1,308,000 after purchasing an additional 197 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Down 0.3 %

Shares of NYSE:RTX traded down $0.30 on Friday, reaching $116.44. 4,578,404 shares of the company traded hands, compared to its average volume of 6,574,825. The business’s 50-day simple moving average is $105.54 and its 200 day simple moving average is $99.37. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.30. The stock has a market capitalization of $154.81 billion, a P/E ratio of 45.66, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the business earned $1.29 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that RTX Co. will post 5.44 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. RTX’s payout ratio is currently 98.82%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RTX. The Goldman Sachs Group upped their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Susquehanna raised their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a report on Wednesday. Royal Bank of Canada raised their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and an average price target of $153.47.

Insider Buying and Selling

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Insiders sold a total of 198,213 shares of company stock worth $22,963,593 in the last three months. Insiders own 0.13% of the company’s stock.

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.