BayBridge Capital Group LLC Boosts Holdings in RTX Co. (NYSE:RTX)

BayBridge Capital Group LLC boosted its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,000 shares of the company's stock after buying an additional 2,032 shares during the period. BayBridge Capital Group LLC's holdings in RTX were worth $1,457,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Foster Victor Wealth Advisors LLC raised its holdings in shares of RTX by 2.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after purchasing an additional 82 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of RTX by 32.1% in the first quarter. Ritholtz Wealth Management now owns 37,137 shares of the company's stock valued at $4,919,000 after purchasing an additional 9,034 shares during the last quarter. Morey & Quinn Wealth Partners LLC purchased a new stake in shares of RTX in the first quarter valued at about $222,000. Dynamic Advisor Solutions LLC raised its holdings in shares of RTX by 8.4% in the first 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 last quarter. Finally, Motive Wealth Advisors purchased a new stake in shares of RTX in the first quarter valued at about $207,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 now owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RTX shares. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a report on Friday, April 25th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and increased their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Citigroup reduced their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company increased their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, RTX presently has a consensus rating of "Buy" and an average target price of $159.82.

RTX Stock Performance

NYSE:RTX traded up $4.49 on Friday, reaching $145.47. 11,752,057 shares of the company's stock were exchanged, compared to its average volume of 5,400,534. The stock has a fifty day simple moving average of $131.41 and a 200-day simple moving average of $126.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 52 week low of $99.07 and a 52 week high of $146.02. The firm has a market cap of $194.34 billion, a price-to-earnings ratio of 40.98, a P/E/G ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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 5.91% and a return on equity of 12.45%. 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 predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.68 dividend. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, May 23rd. RTX's dividend payout ratio (DPR) is 79.77%.

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.