RTX Corporation (NYSE:RTX) Stock Position Lifted by Auto Owners Insurance Co

Auto Owners Insurance Co increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 25.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 415,931 shares of the company's stock after buying an additional 83,212 shares during the quarter. RTX comprises approximately 1.0% of Auto Owners Insurance Co's portfolio, making the stock its 23rd biggest holding. Auto Owners Insurance Co's holdings in RTX were worth $55,094,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Close Asset Management Ltd lifted its position in RTX by 3.6% during the first quarter. Close Asset Management Ltd now owns 53,224 shares of the company's stock worth $7,048,000 after buying an additional 1,851 shares during the period. Venturi Wealth Management LLC lifted its position in RTX by 3,042.4% during the first quarter. Venturi Wealth Management LLC now owns 111,145 shares of the company's stock worth $14,722,000 after buying an additional 107,608 shares during the period. Oak Thistle LLC lifted its position in RTX by 1,141.4% during the first quarter. Oak Thistle LLC now owns 26,553 shares of the company's stock worth $3,517,000 after buying an additional 24,414 shares during the period. Proficio Capital Partners LLC lifted its position in RTX by 2.9% during the first quarter. Proficio Capital Partners LLC now owns 9,280 shares of the company's stock worth $1,229,000 after buying an additional 265 shares during the period. Finally, Summit Asset Management LLC lifted its position in RTX by 65.1% during the first quarter. Summit Asset Management LLC now owns 17,916 shares of the company's stock worth $2,373,000 after buying an additional 7,062 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 1.1%

RTX traded up $1.64 on Friday, reaching $156.86. The company's stock had a trading volume of 4,727,235 shares, compared to its average volume of 4,909,235. The stock has a market cap of $209.96 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $157.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The business's 50 day moving average is $143.48 and its 200 day moving average is $132.81.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. RTX's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 earnings per share. As a group, research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.73%. RTX's dividend payout ratio is currently 59.78%.

Insider Activity at RTX

In other RTX news, 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 transaction of $528,780.84. Following the transaction, the vice president owned 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,530 shares of company stock valued at $3,080,191. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. Bank of America upped their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday. Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Susquehanna upped their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upped their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday. Six research 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.88.

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.