Simon Quick Advisors LLC Grows Stock Holdings in RTX Co. (NYSE:RTX)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in RTX. 10Elms LLP acquired a new position in shares of RTX during the fourth quarter worth $29,000. Fairway Wealth LLC acquired a new position in shares of RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC acquired a new position in shares of RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX during the fourth quarter worth $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal 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 business's stock in a transaction dated 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 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Benchmark raised 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. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada decreased their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Citigroup decreased their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, RTX has an average rating of "Buy" and an average target price of $159.82.

RTX Stock Performance

RTX traded up $4.49 on Friday, hitting $145.47. The company's stock had a trading volume of 11,752,057 shares, compared to its average volume of 5,400,534. The company's 50 day simple moving average is $131.41 and its 200-day simple moving average is $126.54. The firm has a market cap of $194.34 billion, a P/E ratio of 40.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. RTX Co. has a 12 month low of $99.07 and a 12 month high of $146.02. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio 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, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. Analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.68 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is 79.77%.

RTX Company 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.