Bernardo Wealth Planning LLC Invests $229,000 in RTX Corporation (NYSE:RTX)

Bernardo Wealth Planning LLC acquired a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,727 shares of the company's stock, valued at approximately $229,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after acquiring an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after purchasing an additional 603,159 shares during the last quarter. Norges Bank acquired a new position in RTX in the fourth quarter worth about $1,745,644,000. Finally, Northern Trust Corp increased its holdings in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after buying an additional 997,806 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup reduced their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group raised their price objective on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $161.12.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were 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 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.

RTX Price Performance

RTX stock traded up $0.40 during trading on Friday, hitting $146.80. The company had a trading volume of 3,468,750 shares, compared to its average volume of 5,286,353. The business has a 50 day moving average of $138.83 and a 200 day moving average of $130.10. The firm has a market capitalization of $196.12 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 2.72 and a beta of 0.64. 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 $101.02 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 earnings per share for the quarter, topping 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 company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

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

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.