Dover Advisors LLC Acquires 2,983 Shares of RTX Co. (NYSE:RTX)

Dover Advisors LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 11.5% during the first quarter, HoldingsChannel.com reports. The firm owned 28,818 shares of the company’s stock after acquiring an additional 2,983 shares during the quarter. RTX makes up 1.7% of Dover Advisors LLC’s portfolio, making the stock its 9th biggest position. Dover Advisors LLC’s holdings in RTX were worth $3,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. 10Elms LLP acquired a new stake in shares of RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management raised its position in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC acquired a new stake in shares of RTX in the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC acquired a new position in RTX in the fourth quarter valued at about $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

RTX Price Performance

NYSE RTX opened at $145.47 on Friday. RTX Co. has a 12-month low of $99.07 and a 12-month high of $146.02. 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 firm’s 50 day moving average is $131.41 and its 200-day moving average is $126.50. The company has a market capitalization of $194.34 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63.

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

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders 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 1.87%. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s payout ratio is 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Royal Bank of Canada dropped their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Finally, Susquehanna dropped their target price on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $159.82.

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.