Simon Quick Advisors LLC Buys 3,188 Shares of RTX Co. (NYSE:RTX)

Simon Quick Advisors LLC raised its holdings in RTX Co. (NYSE:RTX - Free Report) by 51.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,427 shares of the company's stock after buying an additional 3,188 shares during the period. Simon Quick Advisors LLC's holdings in RTX were worth $1,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of RTX in the fourth quarter valued at approximately $1,745,644,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. grew its stake 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 valued at $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Amundi increased its position 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 during the period. Finally, Capital Wealth Planning LLC bought a new stake in RTX in the 4th quarter valued at about $216,340,000. 86.50% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RTX. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $159.82.

RTX Stock Performance

Shares of RTX stock traded up $0.72 during trading on Monday, hitting $146.41. The company's stock had a trading volume of 4,988,717 shares, compared to its average volume of 5,400,081. RTX Co. has a 52 week low of $99.07 and a 52 week high of $149.10. The company has a market cap of $195.59 billion, a PE ratio of 41.25, a P/E/G ratio of 2.11 and a beta of 0.63. The business has a fifty day moving average of $131.41 and a 200-day moving average of $126.58. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.86%. RTX's 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.