Kesler Norman & Wride LLC Increases Holdings in RTX Corporation (NYSE:RTX)

Kesler Norman & Wride LLC raised its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 35.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,871 shares of the company's stock after acquiring an additional 3,388 shares during the quarter. Kesler Norman & Wride LLC's holdings in RTX were worth $1,705,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RTX. Bay Capital Advisors LLC acquired a new stake in shares of RTX in the first quarter valued at approximately $224,000. Dynamic Advisor Solutions LLC increased its holdings in shares of RTX by 8.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,686 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the last quarter. LBP AM SA increased its holdings in shares of RTX by 17.7% in the first quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after purchasing an additional 41,990 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of RTX in the fourth quarter valued at approximately $3,356,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a report on Wednesday, April 23rd. UBS Group raised their target price on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Susquehanna cut their target price on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of "Moderate Buy" and an average target price of $161.12.

RTX Stock Up 0.3%

NYSE:RTX traded up $0.40 during midday trading on Friday, reaching $146.80. The company had a trading volume of 3,468,750 shares, compared to its average volume of 5,286,353. The firm has a market capitalization of $196.12 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 2.72 and a beta of 0.64. The stock's fifty day simple moving average is $139.16 and its 200-day simple moving average is $130.30. RTX Corporation has a 12-month low of $101.02 and a 12-month high of $149.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

RTX Company 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.