Sharpepoint LLC Grows Stock Position in RTX Corporation (NYSE:RTX)

Sharpepoint LLC boosted its stake in RTX Corporation (NYSE:RTX) by 4.3% in the first quarter, Holdings Channel reports. The fund owned 9,244 shares of the company’s stock after buying an additional 381 shares during the quarter. Sharpepoint LLC’s holdings in RTX were worth $1,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RTX. Brighton Jones LLC raised its position in shares of RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after acquiring an additional 159 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of RTX by 65.5% during the 4th quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company’s stock valued at $1,043,000 after acquiring an additional 3,568 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of RTX during the 4th quarter valued at approximately $81,000. Finally, Moran Wealth Management LLC raised its position in shares of RTX by 2.9% during the 4th quarter. Moran Wealth Management LLC now owns 7,019 shares of the company’s stock valued at $812,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 1.0%

Shares of RTX stock opened at $146.40 on Thursday. RTX Corporation has a fifty-two week low of $99.42 and a fifty-two week high of $149.26. The stock has a market capitalization of $195.58 billion, a P/E ratio of 42.93, a P/E/G ratio of 2.62 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 simple moving average of $138.45 and a 200 day simple moving average of $129.89.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $19.80 billion. On average, sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.86%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Analysts Set New Price Targets

RTX has been the topic of several research reports. Citigroup dropped their price target on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada lowered their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Susquehanna lowered their price objective on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Finally, Cowen restated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.12.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president owned 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the 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 transaction, the executive vice president directly 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. 0.15% of the stock is owned by company insiders.

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.