Western Wealth Management LLC Boosts Position in RTX Corporation (NYSE:RTX)

Western Wealth Management LLC grew its holdings in shares of RTX Corporation (NYSE:RTX) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,092 shares of the company’s stock after buying an additional 535 shares during the period. Western Wealth Management LLC’s holdings in RTX were worth $1,734,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RTX. 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 stake in RTX in the fourth quarter worth $31,000. Picton Mahoney Asset Management grew its stake in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC purchased a new stake in RTX in the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX in the fourth quarter worth $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 1.0%

RTX stock opened at $142.74 on Friday. The stock has a market cap of $190.69 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a one year low of $99.07 and a one year high of $149.26. The stock has a fifty day moving average of $134.55 and a 200 day moving average of $128.11.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. As a group, sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is 79.77%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction dated 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 owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’s 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 completion of the sale, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada reduced their price target on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Wednesday, May 14th. Finally, Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.