Herbst Group LLC Purchases 10,072 Shares of RTX Co. (NYSE:RTX)

Herbst Group LLC raised its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,374 shares of the company's stock after purchasing an additional 10,072 shares during the quarter. RTX makes up approximately 3.8% of Herbst Group LLC's portfolio, making the stock its 3rd largest holding. Herbst Group LLC's holdings in RTX were worth $5,348,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. 1620 Investment Advisors Inc. increased its stake in RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after purchasing an additional 79 shares in the last quarter. Fusion Capital LLC grew its stake in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after acquiring an additional 80 shares during the period. McDonough Capital Management Inc grew its position in RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after buying an additional 80 shares during the period. New England Professional Planning Group Inc. grew its position in RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after buying an additional 81 shares during the period. Finally, Pointe Capital Management LLC grew its position in RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after buying an additional 81 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the 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 in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Stock Up 0.1%

NYSE:RTX traded up $0.14 during mid-day trading on Friday, reaching $139.21. The company's stock had a trading volume of 4,509,961 shares, compared to its average volume of 5,356,795. RTX Co. has a 1 year low of $99.07 and a 1 year high of $140.62. The stock has a fifty day moving average of $129.50 and a 200-day moving average of $125.61. The firm has a market capitalization of $185.98 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate 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 net margin of 5.91% and a return on equity of 12.45%. Equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. 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. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio is presently 79.77%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Susquehanna lowered their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. 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 research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX has an average rating of "Buy" and an average target price 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.