Smith Salley Wealth Management Grows Stock Holdings in RTX Corporation (NYSE:RTX)

Smith Salley Wealth Management lifted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 7.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 209,715 shares of the company's stock after purchasing an additional 13,830 shares during the period. RTX makes up 1.8% of Smith Salley Wealth Management's holdings, making the stock its 13th biggest holding. Smith Salley Wealth Management's holdings in RTX were worth $27,779,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RTX. LaFleur & Godfrey LLC grew its stake in RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock worth $20,620,000 after purchasing an additional 900 shares in the last quarter. Brighton Jones LLC grew its position in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after buying an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after buying an additional 159 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of RTX by 30.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 10,630 shares of the company's stock worth $1,225,000 after buying an additional 2,455 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in RTX in the fourth quarter valued at approximately $152,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 9,546 shares in the company, valued at $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.

RTX Stock Performance

RTX stock traded up $0.32 on Wednesday, hitting $144.51. The company's stock had a trading volume of 3,252,481 shares, compared to its average volume of 5,349,354. The stock has a market cap of $193.06 billion, a price-to-earnings ratio of 42.38, a price-to-earnings-growth ratio of 2.61 and a beta of 0.64. The firm has a 50 day moving average of $135.87 and a two-hundred day moving average of $128.77. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 1 year low of $99.42 and a 1 year high of $149.26.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. Equities analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.88%. RTX's payout ratio is 79.77%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup lowered their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their price target on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, RTX has an average rating of "Moderate Buy" and a consensus target price of $161.12.

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.