Cahaba Wealth Management Inc. Raises Stake in RTX Co. (NYSE:RTX)

Cahaba Wealth Management Inc. lifted its position in RTX Co. (NYSE:RTX) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,347 shares of the company’s stock after acquiring an additional 340 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in RTX were worth $648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc raised its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX in the second quarter valued at about $32,000. Fairfield Financial Advisors LTD bought a new stake in shares of RTX in the second quarter valued at about $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of RTX in the first quarter valued at about $42,000. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE RTX traded up $0.17 during trading hours on Friday, reaching $125.92. The stock had a trading volume of 4,356,338 shares, compared to its average volume of 6,796,400. The stock has a fifty day moving average of $120.91 and a 200 day moving average of $110.38. The stock has a market cap of $167.41 billion, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. RTX Co. has a 52-week low of $72.48 and a 52-week high of $127.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.00%. RTX’s dividend payout ratio is presently 98.82%.

Analysts Set New Price Targets

A number of brokerages have commented on RTX. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Susquehanna boosted their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Robert W. Baird boosted their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and an average price target of $162.50.

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.