Strategic Planning Group LLC Has $5 Million Stake in RTX Co. (NYSE:RTX)

Strategic Planning Group LLC raised its holdings in RTX Co. (NYSE:RTX - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,739 shares of the company's stock after buying an additional 2,429 shares during the period. Strategic Planning Group LLC's holdings in RTX were worth $4,999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 10Elms LLP bought a new position in RTX during the fourth quarter worth $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the 4th quarter worth about $31,000. Picton Mahoney Asset Management boosted its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC acquired a new position in RTX in the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX in the 4th quarter valued at about $39,000. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company'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 transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Price Performance

RTX traded up $0.44 during trading on Thursday, hitting $138.99. 3,508,986 shares of the stock traded hands, compared to its average volume of 5,345,434. 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 twelve month low of $99.07 and a twelve month high of $139.37. The company has a market cap of $185.68 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.11 and a beta of 0.60. The business has a 50 day moving average price of $129.37 and a 200 day moving average price of $125.48.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities research analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is presently 79.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Susquehanna reduced their price objective on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. UBS Group upped their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Citigroup dropped their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Royal Bank of Canada decreased their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $159.82.

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.