Alpha Cubed Investments LLC Grows Position in RTX Corporation (NYSE:RTX)

Alpha Cubed Investments LLC raised its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,508 shares of the company's stock after buying an additional 4,351 shares during the period. Alpha Cubed Investments LLC's holdings in RTX were worth $2,584,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RTX. 1620 Investment Advisors Inc. increased its holdings in shares of RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after buying an additional 79 shares in the last quarter. Guardian Wealth Advisors LLC NC boosted its position in RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after acquiring an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its position in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after acquiring an additional 82 shares during the last quarter. CLG LLC boosted its position in shares of RTX by 2.3% during the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after purchasing an additional 83 shares in the last quarter. Finally, 49 Wealth Management LLC boosted its position in shares of RTX by 3.3% during the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock worth $302,000 after purchasing an additional 84 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Up 0.2%

Shares of RTX stock traded up $0.25 during trading on Monday, hitting $146.00. The stock had a trading volume of 4,531,083 shares, compared to its average volume of 5,341,826. The firm's fifty day simple moving average is $137.24 and its 200-day simple moving average is $129.46. The stock has a market cap of $195.05 billion, a PE ratio of 42.82, a PEG ratio of 2.63 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 announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. RTX's payout ratio is 79.77%.

Insider Transactions at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following 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 position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Wells Fargo & Company raised their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. UBS Group lifted their target price on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Citigroup cut their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Four 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 currently has an average rating of "Moderate Buy" and a consensus target price of $161.12.

RTX 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.