Single Point Partners LLC Acquires Shares of 2,012 RTX Co. (NYSE:RTX)

Single Point Partners LLC bought a new position in RTX Co. (NYSE:RTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,012 shares of the company's stock, valued at approximately $267,000.

Other hedge funds have also recently modified their holdings of the company. LaFleur & Godfrey LLC lifted its position in RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock valued at $20,620,000 after purchasing an additional 900 shares during the period. Brighton Jones LLC raised its stake in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after buying an additional 159 shares during the period. Appleton Partners Inc. MA increased its position in RTX by 6.5% during the fourth quarter. Appleton Partners Inc. MA now owns 4,395 shares of the company's stock valued at $509,000 after acquiring an additional 270 shares during the last quarter. Finally, Vest Financial LLC lifted its holdings in RTX by 5.8% in the fourth quarter. Vest Financial LLC now owns 11,571 shares of the company's stock valued at $1,339,000 after acquiring an additional 631 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

RTX has been the subject of several research reports. Royal Bank of Canada reduced their price target 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. 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 report on Wednesday, May 14th. UBS Group lifted their price target on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Finally, Argus upgraded RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Three 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 presently has a consensus rating of "Buy" and a consensus target price of $159.82.

RTX Trading Up 0.1%

RTX stock opened at $139.21 on Monday. RTX Co. has a 1 year low of $99.07 and a 1 year high of $140.65. The firm's 50 day moving average price is $129.63 and its 200-day moving average price is $125.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market cap of $185.98 billion, a P/E ratio of 39.21, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 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. On average, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 now directly owns 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, 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. 0.15% of the stock is currently owned by company 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.

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