Berry Wealth Group LP Invests $236,000 in RTX Corporation (NYSE:RTX)

Berry Wealth Group LP bought a new stake in RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,779 shares of the company's stock, valued at approximately $236,000.

A number of other hedge funds have also made changes to their positions in RTX. 10Elms LLP purchased a new stake in RTX during the fourth quarter valued at about $29,000. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new stake in shares of RTX in the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RTX. JPMorgan Chase & Co. dropped their price objective 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. Susquehanna cut their price target 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. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Wells Fargo & Company increased their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Finally, DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of "Moderate Buy" and an average price target of $161.12.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

RTX Price Performance

RTX stock opened at $145.90 on Tuesday. The firm has a market cap of $194.92 billion, a P/E ratio of 42.79, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a one year low of $99.07 and a one year high of $149.26. The stock's 50 day moving average is $133.77 and its 200 day moving average is $127.74.

RTX (NYSE:RTX - Get Free Report) last posted 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 return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a dividend of $0.68 per share. The ex-dividend date was Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.86%. RTX's payout ratio is 79.77%.

RTX Company 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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