Arcus Capital Partners LLC Grows Position in RTX Corporation (NYSE:RTX)

Arcus Capital Partners LLC increased its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 298.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,883 shares of the company's stock after purchasing an additional 6,652 shares during the period. Arcus Capital Partners LLC's holdings in RTX were worth $1,177,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RTX. Brighton Jones LLC increased its stake in RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after acquiring an additional 159 shares during the last quarter. Proficio Capital Partners LLC increased its stake in RTX by 65.5% in the 4th quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company's stock worth $1,043,000 after acquiring an additional 3,568 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in RTX in the 4th quarter worth about $81,000. Finally, Moran Wealth Management LLC increased its stake in RTX by 2.9% in the 4th quarter. Moran Wealth Management LLC now owns 7,019 shares of the company's stock worth $812,000 after acquiring an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. 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. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Susquehanna reduced 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. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

RTX Trading Up 0.3%

NYSE RTX traded up $0.40 on Friday, hitting $146.80. The company's stock had a trading volume of 3,468,750 shares, compared to its average volume of 5,283,474. RTX Corporation has a 52-week low of $101.52 and a 52-week high of $149.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company's 50-day simple moving average is $139.16 and its 200 day simple moving average is $130.49. The firm has a market cap of $196.12 billion, a P/E ratio of 43.05, a PEG ratio of 2.73 and a beta of 0.64.

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

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.85%. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, 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 disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

About RTX

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.