Oppenheimer & Co. Inc. Acquires 2,885 Shares of RTX Corporation (NYSE:RTX)

Oppenheimer & Co. Inc. increased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,170 shares of the company's stock after purchasing an additional 2,885 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in RTX were worth $21,216,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RTX. Vanguard Group Inc. grew its stake in shares of RTX by 1.1% during the fourth 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 during the last quarter. Geode Capital Management LLC boosted its holdings in RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after buying an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC grew its holdings in RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock valued at $2,204,198,000 after purchasing an additional 576,214 shares during the period. Franklin Resources Inc. increased its holdings in shares of RTX by 3.8% in the fourth 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 in the last quarter. Finally, Norges Bank bought a new stake in shares of RTX during the fourth quarter worth $1,745,644,000. Institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RTX. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Royal Bank Of Canada cut their price target on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Finally, Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given 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 price target of $161.12.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

RTX Stock Performance

RTX stock traded down $0.74 during midday trading on Monday, hitting $145.90. The company's stock had a trading volume of 6,520,080 shares, compared to its average volume of 5,420,288. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company has a market cap of $194.92 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 2.65 and a beta of 0.63. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The company has a 50-day moving average price of $133.43 and a two-hundred day moving average price of $127.54.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results 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 company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

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