RTX Co. (NYSE:RTX) is Welch Group LLC's 9th Largest Position

Welch Group LLC reduced its stake in RTX Co. (NYSE:RTX - Free Report) by 3.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 522,020 shares of the company's stock after selling 20,083 shares during the quarter. RTX makes up 3.0% of Welch Group LLC's investment portfolio, making the stock its 9th largest holding. Welch Group LLC's holdings in RTX were worth $68,760,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 10Elms LLP purchased a new stake in RTX in the 4th quarter worth about $29,000. Fairway Wealth LLC purchased a new position in RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management grew its stake in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in RTX during the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new position in RTX during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 1.2%

RTX stock traded up $1.63 on Friday, hitting $136.43. 8,195,041 shares of the stock traded hands, compared to its average volume of 5,387,384. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a market cap of $182.26 billion, a P/E ratio of 38.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The business's fifty day simple moving average is $129.09 and its 200 day simple moving average is $125.12. RTX Co. has a 1 year low of $99.07 and a 1 year high of $138.82.

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 net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. As a group, sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.99%. This is a positive change from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX's dividend payout ratio (DPR) is presently 79.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RTX. Citigroup cut their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Finally, Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $159.82.

Insider Activity

In other RTX news, 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 completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.