NorthCrest Asset Manangement LLC Grows Stock Holdings in RTX Co. (NYSE:RTX)

NorthCrest Asset Manangement LLC raised its holdings in RTX Co. (NYSE:RTX - Free Report) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 221,298 shares of the company's stock after acquiring an additional 3,767 shares during the period. RTX makes up approximately 0.9% of NorthCrest Asset Manangement LLC's investment portfolio, making the stock its 26th largest position. NorthCrest Asset Manangement LLC's holdings in RTX were worth $29,313,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. 10Elms LLP acquired a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management increased its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Up 3.2%

RTX stock traded up $4.49 during midday trading on Friday, hitting $145.47. The company's stock had a trading volume of 11,752,057 shares, compared to its average volume of 5,398,595. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52-week low of $99.07 and a 52-week high of $149.94. The firm has a market capitalization of $194.34 billion, a P/E ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. The firm has a 50-day simple moving average of $130.91 and a 200-day simple moving average of $126.33.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. RTX's payout ratio is 79.77%.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company'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 completion of the sale, the executive vice president now directly owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the vice president now owns 9,546 shares of the company's stock, 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. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RTX. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Royal Bank of Canada cut their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Wells Fargo & Company increased their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Finally, Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $159.82.

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.