Obermeyer Wood Investment Counsel Lllp Purchases 247,694 Shares of RTX Co. (NYSE:RTX)

Obermeyer Wood Investment Counsel Lllp increased its stake in RTX Co. (NYSE:RTX) by 2,221.1% during the 4th quarter, Holdings Channel reports. The firm owned 258,846 shares of the company’s stock after purchasing an additional 247,694 shares during the quarter. RTX comprises approximately 1.5% of Obermeyer Wood Investment Counsel Lllp’s portfolio, making the stock its 24th biggest holding. Obermeyer Wood Investment Counsel Lllp’s holdings in RTX were worth $21,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP purchased a new stake in RTX in the first quarter worth approximately $28,000. Bear Mountain Capital Inc. purchased a new stake in RTX in the fourth quarter worth approximately $25,000. Planned Solutions Inc. purchased a new stake in shares of RTX during the fourth quarter valued at approximately $30,000. Strengthening Families & Communities LLC purchased a new stake in shares of RTX during the third quarter valued at approximately $28,000. Finally, Financial Gravity Asset Management Inc. boosted its stake in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.04 during trading on Thursday, hitting $100.71. The company’s stock had a trading volume of 4,237,969 shares, compared to its average volume of 8,241,821. The company has a 50-day moving average of $94.13 and a 200-day moving average of $86.13. RTX Co. has a 12 month low of $68.56 and a 12 month high of $104.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The firm has a market cap of $133.91 billion, a price-to-earnings ratio of 45.08, a P/E/G ratio of 1.84 and a beta of 0.88.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The company had revenue of $19.93 billion during the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 EPS. On average, sell-side analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is 105.36%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the sale, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RTX. Wells Fargo & Company reissued an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Bank of America raised RTX from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. TD Cowen raised their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, UBS Group increased their price objective on RTX from $93.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.44.

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.