Global Assets Advisory LLC Buys New Shares in RTX Corporation (NYSE:RTX)

Global Assets Advisory LLC bought a new stake in RTX Corporation (NYSE:RTX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,367 shares of the company’s stock, valued at approximately $301,000.

Several other hedge funds have also recently made changes to their positions in RTX. 1620 Investment Advisors Inc. grew its holdings in shares of RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock worth $1,401,000 after buying an additional 79 shares in the last quarter. Fusion Capital LLC grew its holdings in shares of RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after buying an additional 80 shares in the last quarter. McDonough Capital Management Inc grew its holdings in shares of RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after buying an additional 80 shares in the last quarter. Pointe Capital Management LLC grew its holdings in shares of RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares in the last quarter. Finally, Guardian Wealth Advisors LLC NC grew its holdings in shares of RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company’s stock worth $576,000 after buying an additional 82 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RTX. JPMorgan Chase & Co. lowered their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Royal Bank Of Canada lowered their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Citigroup lowered their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group boosted their target price on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.12.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’s 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 in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Price Performance

Shares of RTX stock opened at $141.29 on Thursday. The company has a market capitalization of $188.76 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63. The firm has a fifty day simple moving average of $134.28 and a 200-day simple moving average of $127.93. 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 Corporation has a twelve month low of $99.07 and a twelve month high of $149.26.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared 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 of this dividend was Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.93%. RTX’s dividend payout ratio is currently 79.77%.

RTX Profile

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.