Golden State Wealth Management LLC Acquires 7,797 Shares of RTX Corporation (NYSE:RTX)

Golden State Wealth Management LLC increased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 199.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,703 shares of the company's stock after purchasing an additional 7,797 shares during the quarter. Golden State Wealth Management LLC's holdings in RTX were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in shares of RTX by 11.1% in the 1st quarter. Bessemer Group Inc. now owns 47,624 shares of the company's stock worth $6,307,000 after buying an additional 4,764 shares during the last quarter. Aurora Private Wealth Inc. boosted its holdings in RTX by 803.3% in the first quarter. Aurora Private Wealth Inc. now owns 21,435 shares of the company's stock valued at $2,839,000 after acquiring an additional 19,062 shares in the last quarter. Global Assets Advisory LLC purchased a new position in RTX during the 1st quarter valued at $301,000. Steph & Co. raised its holdings in RTX by 4.8% in the 1st quarter. Steph & Co. now owns 2,644 shares of the company's stock worth $350,000 after purchasing an additional 121 shares in the last quarter. Finally, Field & Main Bank lifted its position in shares of RTX by 0.9% in the 1st quarter. Field & Main Bank now owns 18,895 shares of the company's stock worth $2,503,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RTX shares. Royal Bank Of Canada decreased their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a report on Friday, April 25th. Finally, UBS Group boosted their target price on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and an average price target of $161.12.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the firm'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 approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

RTX Stock Up 1.4%

Shares of RTX stock traded up $1.97 during mid-day trading 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 company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26. The stock has a market cap of $193.23 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 2.58 and a beta of 0.63. The business has a 50-day moving average price of $134.87 and a 200 day moving average price of $128.29.

RTX (NYSE:RTX - Get Free Report) last issued 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. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.88%. RTX's dividend payout ratio (DPR) is presently 79.77%.

RTX 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.