Sequoia Financial Advisors LLC Purchases 12,392 Shares of RTX Corporation (NYSE:RTX)

Sequoia Financial Advisors LLC raised its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 545,447 shares of the company's stock after buying an additional 12,392 shares during the quarter. Sequoia Financial Advisors LLC's holdings in RTX were worth $72,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of RTX in the 4th quarter valued at approximately $1,745,644,000. GAMMA Investing LLC lifted its holdings in shares of RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of RTX by 43.1% in 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 buying an additional 3,164,844 shares during the period. Amundi grew its holdings in shares of RTX by 83.1% during the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after buying an additional 2,854,928 shares in the last quarter. Finally, Capital Wealth Planning LLC acquired a new position in RTX during the fourth quarter valued at $216,340,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RTX has been the topic of several research analyst reports. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. The Goldman Sachs Group increased their target price on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research note on Wednesday, May 14th. Finally, Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

RTX Stock Performance

RTX stock traded up $1.97 during trading hours on Friday, reaching $144.64. 9,172,767 shares of the company were exchanged, compared to its average volume of 5,365,696. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. 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 50-day moving average of $134.87 and a 200 day moving average of $128.37. The firm has a market cap of $193.23 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 2.61 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current 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 given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.88%. RTX's dividend payout ratio is presently 79.77%.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company'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 completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a 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 firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction 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 approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

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.