Bingham Private Wealth LLC Boosts Holdings in RTX Corporation (NYSE:RTX)

Bingham Private Wealth LLC grew its position in shares of RTX Corporation (NYSE:RTX) by 8.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,114 shares of the company’s stock after purchasing an additional 332 shares during the period. Bingham Private Wealth LLC’s holdings in RTX were worth $545,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of RTX in the 4th quarter valued at about $1,745,644,000. GAMMA Investing LLC boosted its holdings in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after purchasing an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Invesco Ltd. boosted its holdings in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on RTX. Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the stock a “market perform” rating in a report on Friday, July 11th. Susquehanna reduced their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Citigroup boosted their price target on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a report on Monday, July 14th. UBS Group boosted their price target on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average target price of $164.28.

RTX Stock Up 0.1%

Shares of RTX stock opened at $151.68 on Friday. The stock has a market capitalization of $202.64 billion, a P/E ratio of 44.48, a PEG ratio of 2.82 and a beta of 0.64. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $141.35 and a two-hundred day moving average price of $131.59. RTX Corporation has a 12-month low of $102.62 and a 12-month high of $152.85.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating 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 analysts’ expectations of $19.80 billion. Equities analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.79%. RTX’s dividend payout ratio is currently 79.77%.

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.