Breakwater Capital Group Buys 2,388 Shares of RTX Co. (NYSE:RTX)

Breakwater Capital Group grew its stake in RTX Co. (NYSE:RTX - Free Report) by 83.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,245 shares of the company's stock after acquiring an additional 2,388 shares during the period. Breakwater Capital Group's holdings in RTX were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of RTX. Vanguard Group Inc. lifted its holdings in RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after buying an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC raised its position in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock valued at $2,204,198,000 after acquiring an additional 576,214 shares during the period. Franklin Resources Inc. boosted its holdings in RTX by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after acquiring an additional 603,159 shares during the last quarter. Finally, Norges Bank acquired a new stake in RTX in the fourth quarter worth about $1,745,644,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their target price for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. 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 cut their price target on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $159.82.

RTX Stock Performance

Shares of RTX opened at $138.99 on Friday. The firm's 50 day moving average price is $129.50 and its two-hundred day moving average price is $125.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a twelve month low of $99.07 and a twelve month high of $139.53. The firm has a market cap of $185.68 billion, a P/E ratio of 39.15, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced its 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 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. On average, analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm's 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 completion of the transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated 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 now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. 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.

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