Petros Family Wealth LLC Has $913,000 Holdings in RTX Corporation (NYSE:RTX)

Petros Family Wealth LLC decreased its position in shares of RTX Corporation (NYSE:RTX) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,889 shares of the company’s stock after selling 266 shares during the period. RTX comprises 1.0% of Petros Family Wealth LLC’s holdings, making the stock its 26th largest holding. Petros Family Wealth LLC’s holdings in RTX were worth $913,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RTX. 10Elms LLP acquired a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management boosted its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new stake in RTX in the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC acquired a new stake in RTX in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The shares were 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 directly owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $145.90 on Tuesday. RTX Corporation has a twelve month low of $99.07 and a twelve month high of $149.26. The firm has a fifty day simple moving average of $133.77 and a 200 day simple moving average of $127.74. The company has a market capitalization of $194.92 billion, a PE ratio of 42.79, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a quick ratio of 0.75, a current ratio of 1.01 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 for the quarter, topping 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 business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. On average, sell-side analysts forecast 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. Investors of record on Friday, May 23rd were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is currently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research analyst reports. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Susquehanna cut their target price on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. The Goldman Sachs Group raised their target price on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.