Alps Advisors Inc. Makes New Investment in RTX Corporation (NYSE:RTX)

Alps Advisors Inc. purchased a new position in RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,600 shares of the company's stock, valued at approximately $477,000.

Several other hedge funds have also added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC bought a new position in shares of RTX during the first quarter valued at about $26,000. 10Elms LLP bought a new position in shares of RTX during the fourth quarter valued at about $29,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC bought a new position in shares of RTX during the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX during the fourth quarter valued at about $39,000. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the 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 owned 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Price Performance

Shares of RTX opened at $149.47 on Tuesday. The firm's 50-day simple moving average is $139.16 and its two-hundred day simple moving average is $130.49. RTX Corporation has a fifty-two week low of $101.52 and a fifty-two week high of $150.08. 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 stock has a market cap of $199.68 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS 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 firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend yield of 1.82%. RTX's payout ratio is 79.77%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Susquehanna lowered their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group increased their price target on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Citigroup increased their price target on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.12.

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.

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