MassMutual Private Wealth & Trust FSB Purchases 6,026 Shares of RTX Co. (NYSE:RTX)

MassMutual Private Wealth & Trust FSB grew its stake in RTX Co. (NYSE:RTX - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 252,463 shares of the company's stock after purchasing an additional 6,026 shares during the period. RTX makes up about 1.0% of MassMutual Private Wealth & Trust FSB's portfolio, making the stock its 26th biggest position. MassMutual Private Wealth & Trust FSB's holdings in RTX were worth $33,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. raised its stake in shares of RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after acquiring an additional 79 shares in the last quarter. Fusion Capital LLC increased its stake in shares of RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after purchasing an additional 80 shares in the last quarter. McDonough Capital Management Inc raised its holdings in shares of 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 acquiring an additional 80 shares during the last quarter. New England Professional Planning Group Inc. grew its position in shares of RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC increased its holdings in shares of RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock worth $2,047,000 after buying an additional 81 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Bank of America boosted their price objective on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. Finally, Susquehanna decreased their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX has a consensus rating of "Buy" and an average target price of $159.82.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred 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 sale, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade 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 hyperlink. Corporate insiders own 0.15% of the company's stock.

RTX Price Performance

NYSE:RTX traded up $1.63 during mid-day trading on Friday, hitting $136.43. The company's stock had a trading volume of 8,195,041 shares, compared to its average volume of 5,407,527. 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 stock has a fifty day moving average of $129.09 and a 200-day moving average of $125.12. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $139.92. The company has a market capitalization of $182.26 billion, a price-to-earnings ratio of 38.43, a P/E/G ratio of 2.11 and a beta 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 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. As a group, equities analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.99%. RTX's dividend payout ratio (DPR) is 79.77%.

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.