Agate Pass Investment Management LLC Boosts Stake in RTX Co. (NYSE:RTX)

Agate Pass Investment Management LLC boosted its position in RTX Co. (NYSE:RTX - Free Report) by 11.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,267 shares of the company's stock after buying an additional 2,400 shares during the quarter. RTX makes up about 1.3% of Agate Pass Investment Management LLC's holdings, making the stock its 23rd largest position. Agate Pass Investment Management LLC's holdings in RTX were worth $3,082,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of RTX during the fourth quarter worth $1,745,644,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business's 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 transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by company insiders.

RTX Trading Up 0.4%

RTX stock traded up $0.56 during trading on Monday, hitting $137.04. 1,690,776 shares of the company traded hands, compared to its average volume of 5,269,996. The firm has a market capitalization of $183.08 billion, a PE ratio of 38.61, a P/E/G ratio of 2.11 and a beta of 0.60. RTX Co. has a 1 year low of $99.07 and a 1 year high of $138.82. The company has a 50-day moving average of $129.09 and a 200-day moving average of $125.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

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 analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. Analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent research reports. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research report on Wednesday, April 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. UBS Group increased their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $159.82.

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.