TCI Wealth Advisors Inc. Raises Holdings in RTX Corporation (NYSE:RTX)

TCI Wealth Advisors Inc. increased its holdings in RTX Corporation (NYSE:RTX) by 14.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,346 shares of the company’s stock after acquiring an additional 1,083 shares during the period. TCI Wealth Advisors Inc.’s holdings in RTX were worth $1,105,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position 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 acquiring an additional 1,252,448 shares during the period. Geode Capital Management LLC boosted its position in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after buying an additional 1,000,722 shares during the period. Fisher Asset Management LLC boosted its position in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after buying an additional 576,214 shares during the period. Franklin Resources Inc. boosted its position in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares during the period. Finally, Norges Bank purchased a new position in shares of RTX during the fourth quarter worth $1,745,644,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, UBS Group raised their price target on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Three 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’s stock. According to MarketBeat, RTX presently has a consensus rating of “Buy” and an average price target of $159.82.

RTX Stock Down 1.8%

RTX opened at $145.81 on Thursday. The business’s 50-day simple moving average is $132.69 and its 200-day simple moving average is $127.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a one year low of $99.07 and a one year high of $149.26. The stock has a market capitalization of $194.80 billion, a P/E ratio of 42.76, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63.

RTX (NYSE:RTX) last posted its earnings results 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 return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is 79.77%.

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.