Advisor Resource Council Takes $1.03 Million Position in RTX Corporation (NYSE:RTX)

Advisor Resource Council purchased a new position in RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,821 shares of the company's stock, valued at approximately $1,030,000.

Other hedge funds also recently made changes to their positions in the company. National Pension Service boosted its holdings in shares of RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after buying an additional 375,781 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in RTX by 8.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after acquiring an additional 2,686 shares during the period. Deutsche Bank AG boosted its position in RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of RTX during the fourth quarter valued at $3,356,000. Finally, Thoroughbred Financial Services LLC boosted its stake in RTX by 43.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock valued at $3,046,000 after purchasing an additional 7,987 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective 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. Susquehanna cut their price objective on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. 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 currently has a consensus rating of "Moderate Buy" and an average target price of $159.82.

RTX Stock Performance

RTX traded up $0.88 on Friday, hitting $146.75. 9,218,508 shares of the stock traded hands, compared to its average volume of 5,413,915. The firm has a market capitalization of $196.05 billion, a PE ratio of 43.04, a P/E/G ratio of 2.65 and a beta of 0.63. 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 52 week low of $99.07 and a 52 week high of $149.26. The business has a fifty day moving average price of $133.43 and a two-hundred day moving average price of $127.54.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. RTX's dividend payout ratio is 79.77%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by 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.