Consolidated Planning Corp Buys 31,827 Shares of RTX Corporation (NYSE:RTX)

Consolidated Planning Corp grew its position in RTX Corporation (NYSE:RTX - Free Report) by 1,085.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,759 shares of the company's stock after purchasing an additional 31,827 shares during the period. Consolidated Planning Corp's holdings in RTX were worth $4,604,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RTX. National Pension Service increased its position in shares of RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after acquiring an additional 375,781 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after buying an additional 2,686 shares during the last quarter. Deutsche Bank AG increased its position in RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in RTX during the fourth quarter worth approximately $3,356,000. Finally, Thoroughbred Financial Services LLC increased its position in RTX by 43.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after buying an additional 7,987 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RTX shares. 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. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Citigroup decreased their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.12.

RTX Price Performance

NYSE RTX traded down $3.96 on Tuesday, hitting $141.85. 8,236,359 shares of the company's stock were exchanged, compared to its average volume of 5,396,602. The stock has a 50-day moving average of $134.03 and a 200-day moving average of $127.84. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26. The stock has a market cap of $189.51 billion, a price-to-earnings ratio of 41.60, a P/E/G ratio of 2.64 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. Analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX's dividend payout ratio is presently 79.77%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a legal filing 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 on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

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.