Park Place Capital Corp Has $506,000 Stock Position in RTX Corporation (NYSE:RTX)

Park Place Capital Corp lowered its holdings in shares of RTX Corporation (NYSE:RTX) by 3.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,818 shares of the company’s stock after selling 126 shares during the period. Park Place Capital Corp’s holdings in RTX were worth $506,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. 10Elms LLP bought a new stake in shares of RTX in the 4th quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in RTX during the 4th quarter worth about $31,000. Picton Mahoney Asset Management grew its holdings in 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 during the period. Greenline Partners LLC bought a new position in shares of RTX in the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of a number of research analyst reports. Benchmark upgraded 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. Royal Bank Of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. 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 research report on Monday. UBS Group raised their price target on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.12.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction 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 sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred 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 in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. 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 $142.74 on Friday. The firm has a market cap of $190.69 billion, a P/E ratio of 41.86, a PEG ratio of 2.56 and a beta of 0.63. RTX Corporation has a twelve month low of $99.07 and a twelve month high of $149.26. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $134.55 and a 200 day moving average of $128.11.

RTX (NYSE:RTX) last announced its quarterly 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 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. As a group, research analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio is currently 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.