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

Alpha Cubed Investments LLC increased its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 28.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 filing with the SEC.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on RTX. The Goldman Sachs Group increased their price target on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 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. 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. Royal Bank Of Canada lowered their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, RTX currently has an average rating of "Moderate Buy" and an average price target of $161.12.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president directly owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's 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 directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Price Performance

NYSE:RTX traded up $0.29 during mid-day trading on Thursday, reaching $146.47. The stock had a trading volume of 4,130,468 shares, compared to its average volume of 5,307,561. The stock has a 50-day simple moving average of $138.45 and a two-hundred day simple moving average of $129.89. The stock has a market capitalization of $195.67 billion, a PE ratio of 42.95, a P/E/G ratio of 2.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 12 month low of $99.42 and a 12 month high of $149.26.

RTX (NYSE:RTX - Get Free Report) last issued 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. RTX had a return on equity of 12.71% and a net margin of 5.63%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, equities analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. RTX's dividend payout ratio is presently 79.77%.

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.