Gateway Investment Advisers LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Gateway Investment Advisers LLC boosted its position in RTX Co. (NYSE:RTX) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 554,196 shares of the company’s stock after purchasing an additional 3,841 shares during the quarter. RTX accounts for about 0.8% of Gateway Investment Advisers LLC’s holdings, making the stock its 25th largest holding. Gateway Investment Advisers LLC’s holdings in RTX were worth $73,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. LaFleur & Godfrey LLC lifted its position in RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after purchasing an additional 900 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC grew its position in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after acquiring an additional 159 shares in the last quarter. Trilogy Capital Inc. raised its position in RTX by 80.2% during the fourth quarter. Trilogy Capital Inc. now owns 4,616 shares of the company’s stock valued at $534,000 after purchasing an additional 2,054 shares in the last quarter. Finally, Eagle Ridge Investment Management lifted its stake in RTX by 1.2% during the fourth quarter. Eagle Ridge Investment Management now owns 120,731 shares of the company’s stock worth $13,971,000 after purchasing an additional 1,401 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.1%

RTX stock opened at $139.21 on Friday. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $140.65. The company has a market capitalization of $185.98 billion, a price-to-earnings ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The business’s 50 day moving average price is $129.63 and its two-hundred day moving average price is $125.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results 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 company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RTX. Susquehanna dropped their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada decreased their target price on shares of 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 shares of RTX from a “neutral” rating to an “outperform” rating and increased their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Three 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 MarketBeat.com, RTX presently has a consensus rating of “Buy” and a consensus target price of $159.82.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate 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.