RTX Co. (NYSE:RTX) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its position in shares of RTX Co. (NYSE:RTX) by 14.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 71,835 shares of the company’s stock after purchasing an additional 8,922 shares during the quarter. Park Avenue Securities LLC’s holdings in RTX were worth $9,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Yarbrough Capital LLC raised its stake in RTX by 14.8% during the first quarter. Yarbrough Capital LLC now owns 59,996 shares of the company’s stock valued at $7,947,000 after buying an additional 7,730 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of RTX by 2.2% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 20,579 shares of the company’s stock worth $2,726,000 after purchasing an additional 444 shares during the period. Revolve Wealth Partners LLC raised its position in shares of RTX by 4.3% during the 1st quarter. Revolve Wealth Partners LLC now owns 5,082 shares of the company’s stock worth $673,000 after purchasing an additional 209 shares during the period. Wedmont Private Capital raised its position in shares of RTX by 8.4% during the 1st quarter. Wedmont Private Capital now owns 18,016 shares of the company’s stock worth $2,311,000 after purchasing an additional 1,391 shares during the period. Finally, UMB Bank n.a. raised its position in shares of RTX by 27.7% during the 1st quarter. UMB Bank n.a. now owns 127,913 shares of the company’s stock worth $16,943,000 after purchasing an additional 27,760 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

RTX opened at $139.21 on Friday. The firm has a market cap of $185.98 billion, a PE ratio of 39.21, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $129.63 and a 200-day simple moving average of $125.80. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $140.65.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.95%. RTX’s dividend payout ratio (DPR) is currently 79.77%.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction 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 trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction 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 sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RTX. Cowen reiterated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Susquehanna dropped their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group raised their target price on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $159.82.

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.