Fifth Third Wealth Advisors LLC Raises Stock Holdings in RTX Co. (NYSE:RTX)

Fifth Third Wealth Advisors LLC lifted its position in shares of RTX Co. (NYSE:RTX - Free Report) by 13.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,294 shares of the company's stock after purchasing an additional 3,189 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in RTX were worth $3,615,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. 1620 Investment Advisors Inc. boosted its holdings in RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after acquiring an additional 79 shares in the last quarter. Fusion Capital LLC boosted its stake in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after purchasing an additional 80 shares in the last quarter. McDonough Capital Management Inc grew its position in RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after purchasing an additional 80 shares during the last quarter. New England Professional Planning Group Inc. grew its position in RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after purchasing an additional 81 shares during the last quarter. Finally, Pointe Capital Management LLC raised its holdings in RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock worth $2,047,000 after buying an additional 81 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

RTX stock traded up $0.38 during midday trading on Thursday, hitting $138.93. The stock had a trading volume of 881,398 shares, compared to its average volume of 5,335,154. The firm's fifty day moving average is $129.37 and its two-hundred day moving average is $125.48. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 52-week low of $99.07 and a 52-week high of $139.37. The company has a market capitalization of $185.60 billion, a PE ratio of 39.13, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, research analysts forecast 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 paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RTX. Royal Bank of Canada cut their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Argus raised RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Finally, Cowen restated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. 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 company. According to data from MarketBeat, RTX currently has a consensus rating of "Buy" and a consensus price target of $159.82.

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.