Dover Advisors LLC Boosts Stake in RTX Co. (NYSE:RTX)

Dover Advisors LLC raised its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,818 shares of the company's stock after buying an additional 2,983 shares during the quarter. RTX comprises about 1.7% of Dover Advisors LLC's holdings, making the stock its 9th largest position. Dover Advisors LLC's holdings in RTX were worth $3,817,000 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. 10Elms LLP purchased a new position in shares of RTX in the 4th quarter worth about $29,000. Fairway Wealth LLC purchased a new position in shares of RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management boosted its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in shares of RTX in the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX in the 4th quarter worth about $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RTX 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 transaction of $2,328,805.64. Following the sale, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction 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 completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents 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 currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on RTX. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Wall Street Zen upgraded RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Royal Bank of Canada dropped their target price on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $159.82.

RTX Stock Up 3.2%

Shares of NYSE:RTX traded up $4.49 during trading on Friday, hitting $145.47. The stock had a trading volume of 11,752,057 shares, compared to its average volume of 5,400,534. RTX Co. has a 12 month low of $99.07 and a 12 month high of $146.02. The company has a market capitalization of $194.34 billion, a PE ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. The firm's fifty day moving average is $131.41 and its 200 day moving average is $126.54. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is presently 79.77%.

RTX 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.