Franklin Street Advisors Inc. NC Buys 7,488 Shares of RTX Co. (NYSE:RTX)

Franklin Street Advisors Inc. NC increased its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,231 shares of the company's stock after purchasing an additional 7,488 shares during the quarter. RTX makes up about 1.9% of Franklin Street Advisors Inc. NC's portfolio, making the stock its 15th largest holding. Franklin Street Advisors Inc. NC's holdings in RTX were worth $26,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Trueblood Wealth Management LLC acquired a new stake in shares of RTX during the first quarter worth $219,000. Sanibel Captiva Trust Company Inc. increased its position in shares of RTX by 1.5% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 126,524 shares of the company's stock worth $16,759,000 after buying an additional 1,818 shares during the period. MADDEN SECURITIES Corp acquired a new stake in shares of RTX during the first quarter worth $225,000. Accurate Wealth Management LLC boosted its stake in RTX by 49.4% during the first quarter. Accurate Wealth Management LLC now owns 10,119 shares of the company's stock worth $1,298,000 after acquiring an additional 3,345 shares in the last quarter. Finally, Fiduciary Financial Group LLC bought a new position in RTX during the first quarter worth $262,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX 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 sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 sale, the executive vice president now 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 disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on RTX shares. Susquehanna cut their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research note on Wednesday, May 14th. Finally, Royal Bank of Canada cut their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, RTX has a consensus rating of "Buy" and an average price target of $159.82.

RTX Stock Performance

NYSE RTX traded down $0.89 during trading hours on Thursday, reaching $140.92. 4,663,104 shares of the company were exchanged, compared to its average volume of 5,379,992. The stock has a market capitalization of $188.26 billion, a P/E ratio of 39.70, a P/E/G ratio of 2.11 and a beta of 0.63. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business's 50 day simple moving average is $130.91 and its 200-day simple moving average is $126.33. RTX Co. has a 1 year low of $99.07 and a 1 year high of $142.06.

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

RTX Increases Dividend

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

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.