Cohen Investment Advisors LLC Buys 302,634 Shares of RTX Corporation (NYSE:RTX)

Cohen Investment Advisors LLC boosted its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 1,047.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 331,521 shares of the company's stock after buying an additional 302,634 shares during the period. RTX makes up about 1.1% of Cohen Investment Advisors LLC's holdings, making the stock its 19th largest holding. Cohen Investment Advisors LLC's holdings in RTX were worth $43,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Joel Isaacson & Co. LLC increased its holdings in shares of RTX by 2.9% in the 1st quarter. Joel Isaacson & Co. LLC now owns 10,335 shares of the company's stock worth $1,369,000 after buying an additional 291 shares during the last quarter. TBH Global Asset Management LLC grew its position in RTX by 9.6% in the first quarter. TBH Global Asset Management LLC now owns 15,396 shares of the company's stock worth $2,039,000 after acquiring an additional 1,348 shares in the last quarter. Aljian Capital Management LLC increased its stake in RTX by 5.6% in the first quarter. Aljian Capital Management LLC now owns 31,377 shares of the company's stock valued at $4,156,000 after acquiring an additional 1,673 shares during the last quarter. Sicart Associates LLC purchased a new stake in RTX during the first quarter valued at about $203,000. Finally, WealthBridge Capital Management LLC bought a new stake in RTX during the first quarter worth about $365,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Citigroup decreased their price objective on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Finally, Susquehanna lowered 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. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

RTX Trading Down 1.2%

RTX stock traded down $1.73 on Tuesday, reaching $144.29. The company's stock had a trading volume of 4,818,560 shares, compared to its average volume of 5,369,480. The firm has a market cap of $192.76 billion, a PE ratio of 42.31, a PEG ratio of 2.64 and a beta of 0.64. The business has a fifty day simple moving average of $135.87 and a two-hundred day simple moving average of $128.77. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26. 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 (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.89%. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 4,146 shares of the company'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 directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

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.