Alpine Bank Wealth Management Takes Position in RTX Corporation (NYSE:RTX)

Alpine Bank Wealth Management purchased a new stake in RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,660 shares of the company's stock, valued at approximately $485,000.

Other institutional investors have also recently bought and sold shares of the company. National Pension Service lifted its stake in shares of RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after acquiring an additional 375,781 shares during the period. Dynamic Advisor Solutions LLC lifted its position in RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,686 shares during the period. Deutsche Bank AG boosted its stake in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of RTX during the 4th quarter worth approximately $3,356,000. Finally, Thoroughbred Financial Services LLC raised its stake in shares of RTX by 43.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after buying an additional 7,987 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup lowered their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Royal Bank Of Canada dropped their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Susquehanna cut their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Four investment 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $161.12.

RTX Stock Down 0.4%

Shares of RTX stock traded down $0.56 during trading hours on Wednesday, reaching $141.29. 10,393,865 shares of the company's stock were exchanged, compared to its average volume of 5,416,514. The stock has a market cap of $188.76 billion, a P/E ratio of 41.43, a P/E/G ratio of 2.64 and a beta of 0.63. The company has a 50 day moving average of $134.03 and a two-hundred day moving average of $127.84. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week 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 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 firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. On average, sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, May 23rd. RTX's dividend payout ratio is 79.77%.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm'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 completion of the sale, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction 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 completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% 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 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.