Pinnacle Associates Ltd. Increases Holdings in RTX Corporation (NYSE:RTX)

Pinnacle Associates Ltd. boosted its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 237,714 shares of the company's stock after acquiring an additional 3,562 shares during the quarter. Pinnacle Associates Ltd.'s holdings in RTX were worth $31,488,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Guardian Wealth Advisors LLC NC lifted its holdings in RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after buying an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in shares of RTX by 2.1% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after purchasing an additional 82 shares during the last quarter. Weatherly Asset Management L. P. lifted its holdings in shares of RTX by 0.4% in the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after purchasing an additional 82 shares during the last quarter. CLG LLC lifted its holdings in shares of RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after purchasing an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC lifted its holdings in shares of RTX by 3.3% in the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Susquehanna boosted their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. UBS Group boosted their target price on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday. Sanford C. Bernstein set a $154.00 target price on RTX and gave the company a "market perform" rating in a report on Friday, July 11th. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, RTX has an average rating of "Moderate Buy" and a consensus price target of $173.67.

RTX Stock Performance

NYSE RTX traded down $1.30 on Thursday, hitting $155.19. 4,860,109 shares of the company's stock were exchanged, compared to its average volume of 4,936,366. 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 firm's 50-day moving average price is $143.05 and its two-hundred day moving average price is $132.52. RTX Corporation has a fifty-two week low of $109.45 and a fifty-two week high of $157.24. The firm has a market cap of $207.73 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.92 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.75%. RTX's payout ratio is 79.77%.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business's 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 directly owned 9,546 shares in the company, 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. Insiders own 0.15% of the company's stock.

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.