Gateway Investment Advisers LLC Acquires 3,841 Shares of RTX Co. (NYSE:RTX)

Gateway Investment Advisers LLC boosted its holdings in RTX Co. (NYSE:RTX - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 554,196 shares of the company's stock after acquiring an additional 3,841 shares during the quarter. RTX accounts for approximately 0.8% of Gateway Investment Advisers LLC's investment portfolio, making the stock its 25th biggest holding. Gateway Investment Advisers LLC's holdings in RTX were worth $73,409,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in 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 stake in RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its stake in RTX by 2,944.4% during 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 in the last quarter. Greenline Partners LLC purchased a new position in RTX during the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX in the 4th quarter worth $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction 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 sale, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction 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 owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

Shares of RTX opened at $139.21 on Friday. RTX Co. has a 1 year low of $99.07 and a 1 year high of $140.65. 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 fifty day moving average price is $129.63 and its two-hundred day moving average price is $125.75. The firm has a market cap of $185.98 billion, a PE ratio of 39.21, a PEG ratio of 2.11 and a beta of 0.60.

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, beating analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.95%. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is 79.77%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup dropped their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research note on Wednesday, April 23rd. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Royal Bank of Canada decreased their price target on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Three equities 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.com, the stock 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.

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