GW&K Investment Management LLC Acquires 221,438 Shares of RTX Corporation (NYSE:RTX)

GW&K Investment Management LLC increased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 11,673.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 223,335 shares of the company's stock after purchasing an additional 221,438 shares during the period. GW&K Investment Management LLC's holdings in RTX were worth $29,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in RTX by 3.4% in the fourth 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. Millstone Evans Group LLC bought a new position in RTX in the fourth quarter valued at about $39,000. Summit Global Investments bought a new position in RTX in the fourth quarter valued at about $614,000. Finally, AXQ Capital LP boosted its holdings in RTX by 38.7% in the fourth quarter. AXQ Capital LP now owns 3,046 shares of the company's stock valued at $352,000 after acquiring an additional 850 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on RTX from $135.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research note on Wednesday, May 14th. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. Seven investment 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. According to data from MarketBeat, RTX presently has an average rating of "Moderate Buy" and an average target price of $164.28.

Insider Activity at RTX

In related news, 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 transaction of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction on 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 owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Stock Down 1.5%

RTX stock traded down $2.30 during mid-day trading on Tuesday, reaching $149.26. The company had a trading volume of 10,721,093 shares, compared to its average volume of 5,298,373. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a 50 day simple moving average of $141.35 and a two-hundred day simple moving average of $131.70. The company has a market capitalization of $199.41 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 2.82 and a beta of 0.64. RTX Corporation has a 52 week low of $103.62 and a 52 week high of $153.39.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. As a group, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.82%. RTX's dividend payout ratio 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.