JPL Wealth Management LLC Makes New Investment in RTX Corporation (NYSE:RTX)

JPL Wealth Management LLC bought a new stake in RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,142 shares of the company's stock, valued at approximately $284,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in RTX during the 1st quarter worth approximately $26,000. 10Elms LLP acquired a new stake in RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC purchased a new position in RTX in the 4th quarter worth approximately $34,000. Millstone Evans Group LLC purchased a new position in RTX in the 4th quarter worth approximately $39,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in RTX in the 4th quarter worth approximately $43,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

NYSE RTX traded up $1.64 during trading on Friday, hitting $156.86. The company's stock had a trading volume of 4,727,235 shares, compared to its average volume of 4,909,235. 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 firm has a 50 day moving average price of $143.48 and a 200 day moving average price of $132.81. The firm has a market cap of $209.96 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $157.33.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 EPS. Equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX's payout ratio is presently 59.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Citigroup increased their target price on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. The Goldman Sachs Group raised their price objective on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Finally, Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Six 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $154.88.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business's 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 sale, the vice president owned 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,530 shares of company stock valued at $3,080,191. 0.15% of the stock is owned by corporate insiders.

RTX Company 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.