Bessemer Group Inc. Acquires 4,764 Shares of RTX Corporation (NYSE:RTX)

Bessemer Group Inc. lifted its holdings in shares of RTX Corporation (NYSE:RTX) by 11.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,624 shares of the company’s stock after purchasing an additional 4,764 shares during the period. Bessemer Group Inc.’s holdings in RTX were worth $6,307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Aurora Private Wealth Inc. raised its stake in shares of RTX by 803.3% during the 1st quarter. Aurora Private Wealth Inc. now owns 21,435 shares of the company’s stock worth $2,839,000 after purchasing an additional 19,062 shares during the period. Global Assets Advisory LLC bought a new stake in RTX in the 1st quarter valued at about $301,000. Steph & Co. raised its stake in RTX by 4.8% in the 1st quarter. Steph & Co. now owns 2,644 shares of the company’s stock valued at $350,000 after acquiring an additional 121 shares during the period. Field & Main Bank raised its stake in RTX by 0.9% in the 1st quarter. Field & Main Bank now owns 18,895 shares of the company’s stock valued at $2,503,000 after acquiring an additional 175 shares during the period. Finally, Archford Capital Strategies LLC raised its stake in RTX by 11.5% in the 1st quarter. Archford Capital Strategies LLC now owns 13,498 shares of the company’s stock valued at $1,788,000 after acquiring an additional 1,395 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 1.4%

Shares of NYSE RTX opened at $144.64 on Friday. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $193.23 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 2.58 and a beta of 0.63. The business has a 50-day moving average of $134.87 and a 200-day moving average of $128.29.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.88%. RTX’s dividend payout ratio is currently 79.77%.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Cowen restated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Wall Street Zen cut RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Susquehanna lowered their price objective on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.12.

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.