Confluence Wealth Services Inc. Acquires 6,479 Shares of RTX Corporation (NYSE:RTX)

Confluence Wealth Services Inc. increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 156.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,619 shares of the company's stock after purchasing an additional 6,479 shares during the period. Confluence Wealth Services Inc.'s holdings in RTX were worth $1,407,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. LaFleur & Godfrey LLC lifted its position in RTX by 0.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock valued at $20,620,000 after acquiring an additional 900 shares in the last quarter. Brighton Jones LLC raised its stake in shares of RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after purchasing an additional 159 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of RTX during the fourth quarter worth about $180,000. Finally, Proficio Capital Partners LLC grew its holdings in shares of RTX by 19,052.5% during the fourth quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company's stock worth $120,724,000 after buying an additional 1,037,792 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the subject of a number of recent research reports. Citigroup reduced their price target on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Royal Bank Of Canada reduced 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. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and raised their target price for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. 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 company. Based on data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of NYSE RTX opened at $144.64 on Friday. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The stock has a 50 day moving average of $134.87 and a 200-day moving average of $128.29. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $193.23 billion, a P/E ratio of 42.42, a P/E/G ratio of 2.58 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, equities research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.88%. 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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