Victory Capital Management Inc. Acquires 32,241 Shares of RTX Co. (NYSE:RTX)

Victory Capital Management Inc. grew its holdings in RTX Co. (NYSE:RTX) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 849,044 shares of the company’s stock after purchasing an additional 32,241 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of RTX worth $71,439,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Legacy Financial Group LLC bought a new position in shares of RTX in the 3rd quarter worth $35,000. Strategic Investment Advisors MI bought a new stake in shares of RTX in the 3rd quarter valued at about $700,000. Intellectus Partners LLC grew its position in shares of RTX by 1.7% in the 3rd quarter. Intellectus Partners LLC now owns 9,173 shares of the company’s stock worth $660,000 after buying an additional 151 shares during the last quarter. Northstar Asset Management LLC raised its stake in shares of RTX by 1.9% during the 3rd quarter. Northstar Asset Management LLC now owns 26,003 shares of the company’s stock worth $1,871,000 after acquiring an additional 484 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE lifted its position in RTX by 1.0% during the third quarter. Smithbridge Asset Management Inc. DE now owns 73,472 shares of the company’s stock valued at $5,288,000 after acquiring an additional 697 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RTX shares. TheStreet raised RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada raised their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price objective on shares of RTX in a report on Monday, April 1st. TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Citigroup boosted their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, RTX has a consensus rating of “Hold” and an average target price of $96.93.

Insider Transactions at RTX

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares in the company, valued at approximately $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold a total of 137,842 shares of company stock valued at $13,603,426 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

RTX Price Performance

NYSE:RTX opened at $101.39 on Friday. The firm’s fifty day moving average is $96.48 and its two-hundred day moving average is $88.30. The firm has a market cap of $134.80 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a one year low of $68.56 and a one year high of $103.89.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. Research analysts expect that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be paid a $0.63 dividend. This is a boost from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s payout ratio is currently 92.55%.

RTX 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.