Merit Financial Group LLC boosted its position in shares of RTX Co. (NYSE:RTX - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,919 shares of the company's stock after acquiring an additional 9,151 shares during the period. Merit Financial Group LLC's holdings in RTX were worth $9,659,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter worth $29,000. Fairway Wealth LLC bought a new position in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management raised 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 valued at $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new stake in RTX during the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.
RTX Trading Up 0.8%
NYSE RTX traded up $1.08 during trading on Wednesday, hitting $138.58. The company had a trading volume of 3,200,379 shares, compared to its average volume of 5,363,309. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a one year low of $99.07 and a one year high of $138.83. The company has a market cap of $185.14 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company's fifty day moving average is $129.24 and its 200-day moving average is $125.39.
RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. On average, sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current year.
RTX Increases Dividend
The business also recently disclosed 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 1.96%. RTX's dividend payout ratio is 79.77%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Wall Street Zen upgraded RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Citigroup cut their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Three research 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $159.82.
Get Our Latest Stock Report on RTX
Insiders Place Their Bets
In other RTX news, 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 value of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.
RTX Company Profile
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Free Report)
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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