Rice Partnership LLC Raises Stake in RTX Corporation (NYSE:RTX)

Rice Partnership LLC increased its stake in RTX Corporation (NYSE:RTX - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,495 shares of the company's stock after buying an additional 11,034 shares during the quarter. RTX makes up 2.4% of Rice Partnership LLC's holdings, making the stock its 13th biggest position. Rice Partnership LLC's holdings in RTX were worth $11,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Bay Capital Advisors LLC bought a new stake in RTX in the 1st quarter valued at $224,000. Dynamic Advisor Solutions LLC increased its position in RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after buying an additional 2,686 shares during the period. Deutsche Bank AG increased its position in RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after buying an additional 936,953 shares during the period. Occudo Quantitative Strategies LP bought a new position in RTX during the 4th quarter worth $3,356,000. Finally, Thoroughbred Financial Services LLC increased its position in RTX by 43.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after buying an additional 7,987 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Trading Up 0.2%

Shares of NYSE:RTX traded up $0.25 during mid-day trading on Monday, hitting $146.00. The company had a trading volume of 4,531,083 shares, compared to its average volume of 5,341,827. The firm has a fifty day moving average price of $137.24 and a 200 day moving average price of $129.46. The company has a market capitalization of $195.05 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a one year low of $99.42 and a one year high of $149.26.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results 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 during 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, research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada reduced their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Susquehanna reduced their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.12.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction 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 transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on 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 directly owned 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

About RTX

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.