QRG Capital Management Inc. Increases Stock Position in RTX Co. (NYSE:RTX)

QRG Capital Management Inc. raised its position in shares of RTX Co. (NYSE:RTX) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,648 shares of the company’s stock after buying an additional 8,713 shares during the period. QRG Capital Management Inc.’s holdings in RTX were worth $14,923,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RTX. Bear Mountain Capital Inc. purchased a new stake in RTX during the 4th quarter valued at $25,000. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new position in RTX in the 4th quarter worth $38,000. Fairman Group LLC bought a new position in RTX in the 4th quarter worth $38,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 0.9 %

NYSE:RTX traded up $1.05 on Friday, reaching $116.15. 5,534,344 shares of the stock traded hands, compared to its average volume of 7,340,943. The company has a market capitalization of $154.51 billion, a price-to-earnings ratio of 45.55, a PEG ratio of 2.02 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 Co. has a 12 month low of $68.56 and a 12 month high of $118.30. The company’s fifty day simple moving average is $106.44 and its 200 day simple moving average is $100.38.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts predict that RTX Co. will post 5.44 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid 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 dividend yield of 2.17%. RTX’s dividend payout ratio is presently 98.82%.

Analyst Ratings Changes

Several research analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna upped their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Citigroup increased their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $153.47.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last three months. 0.13% of the stock is currently owned by company insiders.

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.