Abner Herrman & Brock LLC Increases Stock Position in RTX Co. (NYSE:RTX)

Abner Herrman & Brock LLC grew its holdings in RTX Co. (NYSE:RTX - Free Report) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,406 shares of the company's stock after acquiring an additional 3,300 shares during the quarter. Abner Herrman & Brock LLC's holdings in RTX were worth $10,916,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RTX. 10Elms LLP bought a new stake in RTX during the fourth quarter worth $29,000. Fairway Wealth LLC acquired a new stake in RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% during the fourth 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 bought a new position in shares of RTX in the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX during the 4th quarter valued at approximately $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of NYSE RTX traded up $0.38 during midday trading on Thursday, reaching $138.93. The company's stock had a trading volume of 881,398 shares, compared to its average volume of 5,335,169. The stock has a market capitalization of $185.60 billion, a P/E ratio of 39.13, a PEG ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a 50 day moving average price of $129.37 and a 200-day moving average price of $125.48. RTX Co. has a 12-month low of $99.07 and a 12-month high of $139.37.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio (DPR) is currently 79.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RTX. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada decreased their price target on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company boosted their price target on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $159.82.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated 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 of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

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.