Berry Wealth Group LP Takes Position in RTX Corporation (NYSE:RTX)

Berry Wealth Group LP purchased a new stake in shares of RTX Corporation (NYSE:RTX) during the first quarter, HoldingsChannel.com reports. The firm purchased 1,779 shares of the company’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake 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 raised its holdings in RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after purchasing an additional 576,214 shares during the period. Franklin Resources Inc. boosted its stake in shares of RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after purchasing an additional 603,159 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of RTX during the 4th quarter worth approximately $1,745,644,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value 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. This represents a 30.28% decrease in their ownership of the stock. The sale 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 the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $145.90 on Tuesday. The business’s 50 day moving average is $133.77 and its two-hundred day moving average is $127.74. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26. The company has a market capitalization of $194.92 billion, a P/E ratio of 42.79, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) 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 net margin of 5.63% and a return on equity of 12.71%. Analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company 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. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RTX. Cowen reiterated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Royal Bank Of Canada decreased their target price on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Finally, Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.12.

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.