Phillips Wealth Planners LLC Boosts Stake in RTX Corporation (NYSE:RTX)

Phillips Wealth Planners LLC boosted its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 76.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,477 shares of the company's stock after buying an additional 3,242 shares during the period. RTX accounts for about 1.0% of Phillips Wealth Planners LLC's investment portfolio, making the stock its 27th biggest holding. Phillips Wealth Planners LLC's holdings in RTX were worth $959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RTX. 10Elms LLP purchased a new stake in RTX during the fourth quarter worth $29,000. Fairway Wealth LLC acquired a new position in shares of RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management increased its position in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new position in shares of RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RTX. UBS Group upped their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. JPMorgan Chase & Co. reduced their price target on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Citigroup reduced their price target on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and an average target price of $161.12.

RTX Stock Performance

NYSE RTX opened at $141.29 on Thursday. The stock has a 50-day simple moving average of $134.28 and a two-hundred day simple moving average of $127.93. The firm has a market capitalization of $188.76 billion, a P/E ratio of 41.43, a PEG ratio of 2.56 and a beta of 0.63. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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 business 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, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated 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 now owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated 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 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 disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

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.

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