Ironwood Wealth Management LLC. Raises Stake in RTX Co. (NYSE:RTX)

Ironwood Wealth Management LLC. increased its position in shares of RTX Co. (NYSE:RTX - Free Report) by 21.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,669 shares of the company's stock after purchasing an additional 2,206 shares during the period. Ironwood Wealth Management LLC.'s holdings in RTX were worth $1,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. 10Elms LLP purchased a new stake in shares of RTX in the fourth quarter valued at about $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management boosted its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new position in RTX during the fourth quarter worth approximately $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Price Performance

Shares of RTX stock traded up $4.49 on Friday, reaching $145.47. The company's stock had a trading volume of 11,752,057 shares, compared to its average volume of 5,400,534. The stock's fifty day simple moving average is $131.41 and its 200-day simple moving average is $126.54. RTX Co. has a 1 year low of $99.07 and a 1 year high of $146.02. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $194.34 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Citigroup decreased their target price 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. Royal Bank of Canada cut their target price 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. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a research report on Friday, April 25th. Finally, Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, RTX currently has an average rating of "Buy" and a consensus price target of $159.82.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated 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 sale, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 completion of the transaction, the vice president now directly owns 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

About RTX

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.