RTX Co. (NYSE:RTX) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in RTX Co. (NYSE:RTX - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 528,169 shares of the company's stock after purchasing an additional 9,199 shares during the quarter. Fifth Third Bancorp's holdings in RTX were worth $69,961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Vanguard Group Inc. raised its holdings in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RTX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of RTX during the 4th quarter worth approximately $1,745,644,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Down 0.6%

RTX stock traded down $0.89 during midday trading on Thursday, reaching $140.92. The company's stock had a trading volume of 4,663,104 shares, compared to its average volume of 5,379,992. RTX Co. has a 52-week low of $99.07 and a 52-week high of $142.65. The stock has a market capitalization of $188.26 billion, a P/E ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock's 50-day simple moving average is $130.44 and its 200-day simple moving average is $126.17.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $19.80 billion. On average, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.68 per share. This is a boost from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio (DPR) is currently 79.77%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RTX. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price target on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Cowen restated a "buy" rating on shares of RTX in a report on Friday, May 23rd. Finally, Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, RTX has a consensus rating of "Buy" and an average price target of $159.82.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred 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 sale, 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 is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm'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 value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares in the company, valued at approximately $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 company 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.