Westend Capital Management LLC Buys 46,274 Shares of RTX Corporation (NYSE:RTX)

Westend Capital Management LLC lifted its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 149,271.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,305 shares of the company's stock after purchasing an additional 46,274 shares during the period. RTX makes up about 2.3% of Westend Capital Management LLC's investment portfolio, making the stock its 20th biggest position. Westend Capital Management LLC's holdings in RTX were worth $6,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of RTX. 10Elms LLP acquired a new stake in RTX in the fourth quarter worth about $29,000. Fairway Wealth LLC acquired a new position in RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management grew its position 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 period. Greenline Partners LLC bought a new stake in shares of RTX during the fourth quarter worth approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX during the fourth quarter worth approximately $39,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 23rd. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group raised their target price on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $161.12.

Insider Activity

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 completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. The trade was 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.

RTX Stock Up 1.4%

NYSE RTX traded up $1.97 during trading hours on Friday, reaching $144.64. 9,172,767 shares of the company's stock were exchanged, compared to its average volume of 5,399,646. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a market capitalization of $193.23 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 2.58 and a beta of 0.63. The company's 50-day moving average is $134.87 and its two-hundred day moving average is $128.29. RTX Corporation has a one year low of $99.07 and a one year 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 the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. On average, analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.88%. RTX's dividend payout ratio is 79.77%.

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.