QRG Capital Management Inc. Boosts Stock Holdings in RTX Co. (NYSE:RTX)

QRG Capital Management Inc. boosted its position in RTX Co. (NYSE:RTX - Free Report) by 15.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 192,605 shares of the company's stock after purchasing an additional 25,374 shares during the period. QRG Capital Management Inc.'s holdings in RTX were worth $25,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M.E. Allison & CO. Inc. purchased a new stake in shares of RTX during the first quarter valued at approximately $205,000. Mission Wealth Management LP increased its position in shares of RTX by 0.9% during the 1st quarter. Mission Wealth Management LP now owns 23,999 shares of the company's stock valued at $3,179,000 after purchasing an additional 215 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in shares of RTX by 1.2% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 8,489 shares of the company's stock worth $1,124,000 after buying an additional 100 shares during the last quarter. Warther Private Wealth LLC grew its position in RTX by 11.5% during the first quarter. Warther Private Wealth LLC now owns 2,372 shares of the company's stock valued at $314,000 after buying an additional 245 shares during the period. Finally, Keystone Wealth Services LLC purchased a new stake in RTX during the first quarter worth about $220,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Wall Street Zen raised RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Finally, Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $159.82.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following 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 this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated 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 directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Price Performance

NYSE:RTX traded up $0.74 during trading hours on Monday, hitting $146.43. 7,972,254 shares of the company's stock traded hands, compared to its average volume of 5,410,828. RTX Co. has a 52 week low of $99.07 and a 52 week high of $149.10. The business's fifty day simple moving average is $131.41 and its two-hundred day simple moving average is $126.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $195.62 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. On average, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.68 dividend. This is a positive change from RTX's previous quarterly dividend of $0.63. 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 1.86%. 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.