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

by · The Cerbat Gem

Boltwood Capital Management raised its holdings in RTX Co. (NYSE:RTX – Free Report) by 87.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,073 shares of the company’s stock after purchasing an additional 3,290 shares during the period. Boltwood Capital Management’s holdings in RTX were worth $937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. 10Elms LLP purchased a new position in shares of RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the topic of several recent analyst reports. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Royal Bank of Canada reduced their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 23rd. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $159.82.

View Our Latest Analysis on RTX

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

RTX Price Performance

RTX stock opened at $138.58 on Thursday. RTX Co. has a 52-week low of $99.07 and a 52-week high of $138.88. The firm has a fifty day moving average of $129.37 and a 200-day moving average of $125.48. The firm has a market capitalization of $185.14 billion, a P/E ratio of 39.04, a PEG ratio of 2.11 and a beta of 0.60. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

RTX Company Profile

(Free Report)

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.

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