Smithbridge Asset Management Inc. DE Invests $8.73 Million in RTX Co. (NYSE:RTX)

Smithbridge Asset Management Inc. DE acquired a new stake in RTX Co. (NYSE:RTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 65,892 shares of the company's stock, valued at approximately $8,728,000. RTX accounts for about 1.6% of Smithbridge Asset Management Inc. DE's investment portfolio, making the stock its 21st biggest holding.

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

RTX Stock Up 3.2%

Shares of NYSE:RTX traded up $4.49 during trading on Friday, hitting $145.47. 11,752,057 shares of the company were exchanged, compared to its average volume of 5,398,595. The stock has a market capitalization of $194.34 billion, a P/E ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12-month low of $99.07 and a 12-month high of $149.94. The firm's 50 day moving average price is $130.91 and its 200-day moving average price is $126.33.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating 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 firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. On average, research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX's dividend payout ratio is 79.77%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a research note on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $159.82.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction on 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 directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, 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 on 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 directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by 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.