Kanawha Capital Management LLC Boosts Stock Holdings in RTX Corporation (NYSE:RTX)

Kanawha Capital Management LLC grew its stake in RTX Corporation (NYSE:RTX - Free Report) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,398 shares of the company's stock after acquiring an additional 1,956 shares during the quarter. RTX accounts for 1.8% of Kanawha Capital Management LLC's portfolio, making the stock its 16th biggest holding. Kanawha Capital Management LLC's holdings in RTX were worth $22,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC increased its position in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Franklin Resources Inc. raised its holdings in RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after acquiring an additional 603,159 shares during the last quarter. Norges Bank purchased a new position in RTX in the 4th quarter worth approximately $1,745,644,000. Finally, Northern Trust Corp lifted its position in RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after acquiring an additional 997,806 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on 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 transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 4,146 shares of the 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 completion of the sale, the vice president owned 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

RTX Stock Performance

NYSE:RTX traded up $1.25 during mid-day trading on Thursday, hitting $145.77. 1,064,832 shares of the company traded hands, compared to its average volume of 5,332,860. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock's fifty day moving average price is $136.35 and its 200-day moving average price is $128.88. The firm has a market cap of $194.74 billion, a price-to-earnings ratio of 42.78, a price-to-earnings-growth ratio of 2.61 and a beta of 0.64. RTX Corporation has a one year low of $99.42 and a one year high of $149.26.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Research analysts anticipate 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. Stockholders of record on Friday, August 15th will be paid 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 (DPR) is presently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent analyst reports. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently 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.