Hemenway Trust Co LLC Increases Stake in RTX Corporation (NYSE:RTX)

Hemenway Trust Co LLC increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,628 shares of the company's stock after buying an additional 10,518 shares during the period. RTX comprises 2.8% of Hemenway Trust Co LLC's investment portfolio, making the stock its 16th largest holding. Hemenway Trust Co LLC's holdings in RTX were worth $34,523,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RTX. 10Elms LLP acquired a new stake in shares of RTX in the 4th quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its holdings in shares of 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 purchasing an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new stake in shares of RTX in the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of RTX in the 4th quarter valued at $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 1.4%

Shares of RTX stock opened at $148.50 on Wednesday. RTX Corporation has a 1 year low of $99.07 and a 1 year high of $149.56. 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 company has a market capitalization of $198.39 billion, a P/E ratio of 43.55, a PEG ratio of 2.65 and a beta of 0.63. The company's fifty day moving average is $132.34 and its two-hundred day moving average is $126.91.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. Analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction 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 completion of the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm'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 completion of the sale, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company increased their target price on shares of 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 raised shares of RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, 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 report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $159.82.

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.

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Corporation (NYSE:RTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.