Segment Wealth Management LLC Purchases New Holdings in RTX Corporation (NYSE:RTX)

Segment Wealth Management LLC acquired a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,381 shares of the company's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. 10Elms LLP acquired a new position in RTX in the fourth quarter valued at about $29,000. Fairway Wealth LLC bought a new position in RTX in the 4th quarter valued at about $31,000. Picton Mahoney Asset Management lifted its holdings 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 acquiring an additional 265 shares during the period. Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $39,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Finally, Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and a consensus target price of $159.82.

RTX Trading Up 0.6%

Shares of NYSE RTX opened at $146.75 on Friday. The firm has a 50 day moving average price of $133.43 and a two-hundred day moving average price of $127.42. The stock has a market cap of $196.05 billion, a P/E ratio of 43.04, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating 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 return on equity of 12.71% and a net margin of 5.63%. As a group, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, May 23rd. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction 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 completion of the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction 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 now directly owns 16,538 shares in the company, 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. 0.15% of the stock is currently owned by corporate insiders.

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.

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