1,839 Shares in RTX Corporation (NYSE:RTX) Acquired by Sovran Advisors LLC

Sovran Advisors LLC bought a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,839 shares of the company's stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 10Elms LLP bought a new stake in RTX in the 4th quarter valued at about $29,000. Fairway Wealth LLC bought a new stake in RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised 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 valued at $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC purchased a new stake in shares of RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.9%

RTX stock traded up $1.28 during trading hours on Friday, hitting $145.80. 1,888,713 shares of the stock traded hands, compared to its average volume of 5,348,312. RTX Corporation has a one year low of $99.42 and a one year high of $149.26. The firm's 50-day moving average price is $136.83 and its two-hundred day moving average price is $129.07. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market cap of $194.78 billion, a PE ratio of 42.76, a PEG ratio of 2.61 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last released its 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 return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. On average, research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. 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 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 transaction, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% 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 company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Susquehanna lowered their price target on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and increased their target price for the company 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 assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

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.