Braun Stacey Associates Inc. bought a new position in shares of RTX Corporation (NYSE:RTX – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 176,278 shares of the company’s stock, valued at approximately $23,350,000.
Several other hedge funds have also recently bought and sold shares of the stock. 1620 Investment Advisors Inc. raised its holdings in RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after buying an additional 79 shares during the period. Guardian Wealth Advisors LLC NC grew its stake in shares of RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company’s stock worth $576,000 after acquiring an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its stake in shares of RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company’s stock worth $505,000 after acquiring an additional 82 shares in the last quarter. CLG LLC grew its stake in shares of RTX by 2.3% during the 1st quarter. CLG LLC now owns 3,686 shares of the company’s stock worth $488,000 after acquiring an additional 83 shares in the last quarter. Finally, 49 Wealth Management LLC grew its stake in shares of RTX by 3.3% during the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company’s stock worth $302,000 after acquiring an additional 84 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at RTX
In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares in the company, 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. Insiders own 0.15% of the company’s stock.
RTX Stock Up 0.9%
RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS 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 the consensus estimate of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.
RTX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. RTX’s dividend payout ratio (DPR) is presently 79.77%.
Wall Street Analyst Weigh In
RTX has been the subject of several analyst reports. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research note on Friday, April 25th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and raised their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. Four research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $161.12.
Get Our Latest Research Report on RTX
About RTX
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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