MainStreet Investment Advisors LLC Grows Position in RTX Corporation (NYSE:RTX)

MainStreet Investment Advisors LLC boosted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 116.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,102 shares of the company's stock after acquiring an additional 4,364 shares during the period. MainStreet Investment Advisors LLC's holdings in RTX were worth $1,073,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after acquiring an additional 159 shares during the last quarter. Proficio Capital Partners LLC raised its position in RTX by 65.5% during the 4th quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company's stock worth $1,043,000 after purchasing an additional 3,568 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in RTX during the 4th quarter worth $81,000. Finally, Moran Wealth Management LLC raised its position in shares of RTX by 2.9% in the 4th quarter. Moran Wealth Management LLC now owns 7,019 shares of the company's stock worth $812,000 after acquiring an additional 195 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Transactions at RTX

In related 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 sale, the vice president owned 9,546 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research reports. Wells Fargo & Company raised their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. The Goldman Sachs Group upped their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Royal Bank Of Canada reduced their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $161.12.

RTX Price Performance

RTX traded up $0.40 during trading on Friday, reaching $146.80. 3,468,750 shares of the company were exchanged, compared to its average volume of 5,283,474. The company's 50-day moving average is $139.16 and its two-hundred day moving average is $130.49. The company has a market cap of $196.12 billion, a price-to-earnings ratio of 43.05, a P/E/G ratio of 2.73 and a beta of 0.64. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12-month low of $101.52 and a 12-month high of $149.26.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. RTX's dividend payout ratio (DPR) is 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.