Carnegie Investment Counsel Purchases 121,621 Shares of RTX Corporation (NYSE:RTX)

Carnegie Investment Counsel boosted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 106.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 236,140 shares of the company's stock after buying an additional 121,621 shares during the quarter. Carnegie Investment Counsel's holdings in RTX were worth $29,550,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Guardian Wealth Advisors LLC NC increased its stake in shares of RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after purchasing an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in RTX by 2.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after purchasing an additional 82 shares in the last quarter. Weatherly Asset Management L. P. increased its position in RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after buying an additional 82 shares during the last quarter. CLG LLC lifted its position in shares of RTX by 2.3% in the first quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after buying an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC lifted its position in shares of RTX by 3.3% in the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock worth $302,000 after buying an additional 84 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research report on Wednesday. Susquehanna lifted their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.88.

Insider Activity at RTX

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,530 shares of company stock worth $3,080,191. Insiders own 0.15% of the company's stock.

RTX Stock Up 1.1%

Shares of NYSE:RTX traded up $1.64 during mid-day trading on Friday, reaching $156.86. 4,727,235 shares of the stock were exchanged, compared to its average volume of 4,909,235. The company has a market cap of $209.96 billion, a P/E ratio of 34.47, a P/E/G ratio of 2.86 and a beta of 0.64. RTX Corporation has a one year low of $112.27 and a one year high of $157.33. The stock's 50 day simple moving average is $143.48 and its 200-day simple moving average is $132.81. 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 (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the company earned $1.41 EPS. RTX's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.73%. RTX's dividend payout ratio (DPR) is presently 59.78%.

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.