25,477 Shares in RTX Corporation (NYSE:RTX) Acquired by Seascape Capital Management

Seascape Capital Management purchased a new stake in RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,477 shares of the company's stock, valued at approximately $3,375,000.

A number of other institutional investors also recently modified their holdings of RTX. Norges Bank bought a new stake in RTX during the fourth quarter worth about $1,745,644,000. GAMMA Investing LLC raised its holdings in RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after acquiring an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Amundi raised its holdings in RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock worth $728,964,000 after acquiring an additional 2,854,928 shares in the last quarter. Finally, Invesco Ltd. increased its position in RTX by 17.6% during the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock worth $1,175,457,000 after buying an additional 1,522,251 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company'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 transaction, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction 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 completion of the sale, the vice president directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on RTX. 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. The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research report 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 report on Wednesday, May 14th. Finally, Susquehanna decreased their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Four 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.12.

RTX Stock Up 0.9%

Shares of RTX traded up $1.28 during trading hours on Friday, hitting $145.80. The stock had a trading volume of 1,888,713 shares, compared to its average volume of 5,345,078. 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 firm has a 50 day simple moving average of $137.24 and a 200-day simple moving average of $129.46. The firm has a market capitalization of $194.78 billion, a P/E ratio of 42.76, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. RTX Corporation has a 1-year low of $99.42 and a 1-year high of $149.26.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating 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 business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. Sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 1.87%. 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.