Global Assets Advisory LLC Makes New Investment in RTX Corporation (NYSE:RTX)

Global Assets Advisory LLC purchased a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,367 shares of the company's stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LaFleur & Godfrey LLC grew its stake in shares of RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock valued at $20,620,000 after purchasing an additional 900 shares during the period. Brighton Jones LLC grew its position in RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares during the period. Revolve Wealth Partners LLC increased its holdings in RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after buying an additional 159 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in RTX by 19.6% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 20,814 shares of the company's stock worth $2,409,000 after acquiring an additional 3,412 shares during the period. Finally, FourThought Financial Partners LLC purchased a new position in shares of RTX during the 4th quarter worth $900,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup dropped their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group increased their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and an average price target of $161.12.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

RTX Price Performance

RTX traded up $1.97 during trading hours on Friday, hitting $144.64. The company's stock had a trading volume of 9,172,767 shares, compared to its average volume of 5,399,642. The stock has a market cap of $193.23 billion, a price-to-earnings ratio of 42.42, a P/E/G ratio of 2.58 and a beta of 0.63. The business's 50-day moving average price is $134.87 and its 200-day moving average price is $128.29. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26.

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 analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. Sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

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.