RTX Corporation (NYSE:RTX) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in RTX Corporation (NYSE:RTX - Free Report) by 12.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,430 shares of the company's stock after purchasing an additional 3,561 shares during the period. GAMMA Investing LLC's holdings in RTX were worth $4,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 10Elms LLP purchased a new position in shares of RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new position in RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in RTX in the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 1.4%

NYSE:RTX traded up $1.97 during midday trading on Friday, reaching $144.64. 9,172,767 shares of the stock traded hands, compared to its average volume of 5,399,646. The stock has a market capitalization of $193.23 billion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 2.58 and a beta of 0.63. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The business has a 50-day moving average of $134.87 and a two-hundred day moving average of $128.29.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $19.80 billion. On average, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.88%. RTX's payout ratio is 79.77%.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of the company'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 transaction, the vice president now directly owns 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business'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 sale, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent analyst reports. Susquehanna reduced their price target 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 report on Wednesday, March 19th. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group lifted their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $161.12.

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.