RTX Corporation (NYSE:RTX) Shares Bought by PFG Investments LLC

PFG Investments LLC lifted its position in shares of RTX Corporation (NYSE:RTX) by 7.4% during the first quarter, HoldingsChannel reports. The firm owned 20,485 shares of the company’s stock after purchasing an additional 1,419 shares during the quarter. PFG Investments LLC’s holdings in RTX were worth $2,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in RTX in the 4th quarter valued at about $1,745,644,000. GAMMA Investing LLC boosted its holdings in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after purchasing an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Amundi increased its holdings in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. Finally, Capital Wealth Planning LLC purchased a new stake in RTX during the 4th quarter worth approximately $216,340,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX stock opened at $146.75 on Friday. RTX Corporation has a 1 year low of $99.07 and a 1 year high of $149.26. The stock has a market capitalization of $196.05 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 2.64 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock’s fifty day moving average is $133.43 and its two-hundred day moving average is $127.42.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. On average, research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio is 79.77%.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research note on Friday, April 25th. Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Wall Street Zen downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group increased their price target on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Citigroup decreased their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.82.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were 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 represents 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 the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were 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 directly owns 16,538 shares in the company, valued at approximately $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 owned by 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.