Forum Financial Management LP Buys 1,765 Shares of RTX Corporation (NYSE:RTX)

Forum Financial Management LP boosted its stake in RTX Corporation (NYSE:RTX - Free Report) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,785 shares of the company's stock after purchasing an additional 1,765 shares during the quarter. Forum Financial Management LP's holdings in RTX were worth $2,753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1620 Investment Advisors Inc. grew its position in RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares during the last quarter. Guardian Wealth Advisors LLC NC boosted its holdings in shares of RTX by 1.7% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after acquiring an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after purchasing an additional 82 shares during the last quarter. Weatherly Asset Management L. P. lifted its stake in RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after purchasing an additional 82 shares during the last quarter. Finally, CLG LLC lifted its stake in RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group increased their target price on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Susquehanna cut their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. cut their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $164.28.

RTX Trading Up 1.0%

Shares of RTX traded up $1.53 on Thursday, reaching $151.70. 4,325,793 shares of the company's stock were exchanged, compared to its average volume of 5,274,857. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $202.66 billion, a P/E ratio of 44.49, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. The business has a 50 day moving average price of $140.89 and a two-hundred day moving average price of $131.23. RTX Corporation has a 12 month low of $102.62 and a 12 month high of $151.97.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 dividend yield of 1.79%. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX 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.