Oppenheimer Asset Management Inc. Has $79.83 Million Stock Position in RTX Corporation (NYSE:RTX)

Oppenheimer Asset Management Inc. reduced its stake in RTX Corporation (NYSE:RTX - Free Report) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 602,665 shares of the company's stock after selling 93,847 shares during the quarter. RTX accounts for 1.0% of Oppenheimer Asset Management Inc.'s investment portfolio, making the stock its 13th biggest holding. Oppenheimer Asset Management Inc.'s holdings in RTX were worth $79,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of RTX. Norges Bank acquired a new stake in shares of RTX during the 4th quarter valued at approximately $1,745,644,000. GAMMA Investing LLC increased its stake in RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi boosted its position in RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock worth $728,964,000 after purchasing an additional 2,854,928 shares in the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in RTX in the fourth quarter valued at $216,340,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 transaction, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the 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 sale, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Royal Bank Of Canada dropped their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and upped their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Four equities 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $161.12.

RTX Price Performance

RTX stock traded down $0.74 during trading hours on Monday, hitting $145.90. 6,519,968 shares of the company traded hands, compared to its average volume of 5,418,334. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.66. The firm has a market cap of $194.92 billion, a P/E ratio of 42.79, a P/E/G ratio of 2.65 and a beta of 0.63. The firm's 50-day simple moving average is $133.43 and its two-hundred day simple moving average is $127.54. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

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

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is currently 79.77%.

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.