AE Wealth Management LLC Acquires 6,521 Shares of RTX Corporation (NYSE:RTX)

AE Wealth Management LLC increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,857 shares of the company's stock after purchasing an additional 6,521 shares during the period. AE Wealth Management LLC's holdings in RTX were worth $13,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after acquiring an additional 603,159 shares during the last quarter. Norges Bank acquired a new stake in shares of RTX during the 4th quarter valued at approximately $1,745,644,000. Northern Trust Corp lifted its stake in RTX by 8.4% during the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after purchasing an additional 997,806 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday. Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday. UBS Group upped their price objective on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $173.67.

RTX Stock Down 0.8%

Shares of RTX stock traded down $1.30 during trading on Thursday, hitting $155.19. 4,860,109 shares of the stock traded hands, compared to its average volume of 4,936,366. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a market cap of $207.73 billion, a P/E ratio of 34.11, a PEG ratio of 2.92 and a beta of 0.64. RTX Corporation has a twelve month low of $109.45 and a twelve month high of $157.24. The company has a fifty day moving average price of $143.05 and a two-hundred day moving average price of $132.52.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts predict that RTX Corporation will post 6.11 EPS 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 given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.75%. RTX's dividend payout ratio is presently 79.77%.

Insiders Place Their Bets

In other RTX 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 completion of the transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed 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 owned 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

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.