Jackson Wealth Management LLC Takes $522,000 Position in RTX Corporation (NYSE:RTX)

Jackson Wealth Management LLC bought a new stake in RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,939 shares of the company's stock, valued at approximately $522,000.

Several other institutional investors have also modified their holdings of the stock. 1620 Investment Advisors Inc. grew its position in shares of RTX by 0.7% in the fourth 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 during the period. Guardian Wealth Advisors LLC NC boosted its position in RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after acquiring an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its position in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after acquiring an additional 82 shares during the last quarter. CLG LLC boosted its position in RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after acquiring an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC boosted its position in RTX by 3.3% during the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock worth $302,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares of the company's stock, 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 available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Trading Up 0.9%

RTX opened at $145.80 on Friday. RTX Corporation has a 12 month low of $99.42 and a 12 month high of $149.26. The stock has a market capitalization of $194.78 billion, a price-to-earnings ratio of 42.76, a PEG ratio of 2.63 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The business has a fifty day moving average price of $137.24 and a 200 day moving average price of $129.37.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. Sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.87%. RTX's dividend payout ratio is presently 79.77%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RTX shares. JPMorgan Chase & Co. lowered their price target 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. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. UBS Group boosted their price target on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Morgan Stanley upgraded shares of 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. Finally, Susquehanna reduced their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and a consensus target price of $161.12.

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.

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