Alpha Cubed Investments LLC Buys 4,351 Shares of RTX Corporation (NYSE:RTX)

Alpha Cubed Investments LLC increased its stake in RTX Corporation (NYSE:RTX - Free Report) by 28.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,508 shares of the company's stock after acquiring an additional 4,351 shares during the period. Alpha Cubed Investments LLC's holdings in RTX were worth $2,584,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RTX. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX during the first quarter valued at approximately $26,000. 10Elms LLP bought a new stake in RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC bought a new stake in RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Finally, Greenline Partners LLC purchased a new position in shares of RTX in the fourth quarter valued at about $34,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president directly owned 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value 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 trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Price Performance

RTX stock opened at $145.80 on Monday. 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 firm has a 50 day moving average price of $137.24 and a 200-day moving average price of $129.46. RTX Corporation has a 52-week low of $99.42 and a 52-week high of $149.26. The firm has a market capitalization of $194.78 billion, a price-to-earnings ratio of 42.76, a PEG ratio of 2.63 and a beta of 0.64.

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. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. Equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. RTX's payout ratio is 79.77%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RTX. UBS Group increased their target price on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Citigroup dropped their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Susquehanna cut their price objective on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $161.12.

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.

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