Fortem Financial Group LLC Makes New Investment in RTX Corporation (NYSE:RTX)

Fortem Financial Group LLC purchased a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,819 shares of the company's stock, valued at approximately $241,000.

A number of other institutional investors have also recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new position in shares of RTX in the first quarter valued at approximately $26,000. 10Elms LLP bought a new stake in shares of RTX in the fourth quarter valued at approximately $29,000. Picton Mahoney Asset Management boosted its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC bought a new stake in shares of RTX in the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Up 0.3%

Shares of NYSE:RTX opened at $146.80 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $139.16 and a 200 day simple moving average of $130.40. RTX Corporation has a 12-month low of $101.52 and a 12-month high of $149.26. The firm has a market cap of $196.12 billion, a P/E ratio of 43.05, a P/E/G ratio of 2.73 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $19.80 billion. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. RTX's payout ratio is currently 79.77%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RTX. Susquehanna cut 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. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research note on Friday, April 25th. UBS Group boosted their price target on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Finally, Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $161.12.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated 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 sale, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

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.

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