CWA Asset Management Group LLC increased its position in RTX Corporation (NYSE:RTX - Free Report) by 17.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,082 shares of the company's stock after acquiring an additional 6,769 shares during the period. CWA Asset Management Group LLC's holdings in RTX were worth $6,104,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Cadent Capital Advisors LLC increased its stake in shares of RTX by 379.7% in the first quarter. Cadent Capital Advisors LLC now owns 14,673 shares of the company's stock valued at $1,943,000 after purchasing an additional 11,614 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in RTX by 9.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 42,278 shares of the company's stock worth $5,604,000 after buying an additional 3,639 shares in the last quarter. Essex Savings Bank increased its position in RTX by 1.1% in the 1st quarter. Essex Savings Bank now owns 26,431 shares of the company's stock valued at $3,501,000 after acquiring an additional 277 shares during the period. Pegasus Asset Management Inc. raised its stake in RTX by 1.7% during the 1st quarter. Pegasus Asset Management Inc. now owns 50,074 shares of the company's stock valued at $6,633,000 after acquiring an additional 840 shares in the last quarter. Finally, Wells Trecaso Financial Group LLC boosted its position in RTX by 1.5% during the 1st quarter. Wells Trecaso Financial Group LLC now owns 64,220 shares of the company's stock worth $8,506,000 after acquiring an additional 949 shares during the period. 86.50% of the stock is currently owned by institutional investors.
RTX Trading Down 1.8%
Shares of NYSE:RTX traded down $2.67 during midday trading on Thursday, reaching $145.81. The company had a trading volume of 7,110,436 shares, compared to its average volume of 5,436,611. The company has a fifty day simple moving average of $133.06 and a two-hundred day simple moving average of $127.23. The firm has a market cap of $194.80 billion, a price-to-earnings ratio of 42.76, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. RTX Corporation has a 1-year low of $99.07 and a 1-year 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 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 during 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%. Research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.
RTX Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.87%. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX's payout ratio is presently 79.77%.
Insider Buying and Selling at RTX
In related news, EVP Dantaya M. Williams sold 16,922 shares of the business'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. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on RTX shares. Susquehanna reduced their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Citigroup dropped their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a report on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their target price on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $159.82.
Check Out Our Latest Research Report on RTX
About RTX
(
Free Report)
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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