Brookstone Capital Management Raises Stock Position in RTX Corporation (NYSE:RTX)

Brookstone Capital Management raised its position in RTX Corporation (NYSE:RTX - Free Report) by 176.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,088 shares of the company's stock after purchasing an additional 66,455 shares during the quarter. Brookstone Capital Management's holdings in RTX were worth $13,788,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in RTX in the fourth quarter valued at approximately $1,745,644,000. GAMMA Investing LLC raised its position in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi grew its holdings in shares of RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the period. Finally, Invesco Ltd. increased its position in shares of RTX by 17.6% during the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

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

RTX Stock Performance

Shares of RTX stock opened at $145.80 on Friday. The business has a 50-day simple moving average of $136.83 and a 200-day simple moving average of $129.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a one year low of $99.42 and a one year high of $149.26. The company has a market cap of $194.78 billion, a PE ratio of 42.76, a P/E/G ratio of 2.61 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last announced 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. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, equities 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. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. RTX's dividend payout ratio is presently 79.77%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RTX. Susquehanna decreased their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. JPMorgan Chase & Co. decreased 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. Royal Bank Of Canada dropped their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $161.12.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.