Strong Tower Advisory Services Purchases 2,957 Shares of RTX Co. (NYSE:RTX)

Strong Tower Advisory Services raised its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 14.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,130 shares of the company's stock after acquiring an additional 2,957 shares during the quarter. RTX comprises approximately 0.8% of Strong Tower Advisory Services' portfolio, making the stock its 29th biggest holding. Strong Tower Advisory Services' holdings in RTX were worth $3,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RTX. 10Elms LLP bought a new stake in RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC bought a new stake in RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its holdings in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC bought a new stake in RTX during the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX in the fourth quarter worth $39,000. Institutional investors own 86.50% of the company's stock.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

RTX Stock Up 0.1%

Shares of RTX traded up $0.20 on Thursday, hitting $138.75. 931,142 shares of the stock traded hands, compared to its average volume of 5,335,456. RTX Co. has a one year low of $99.07 and a one year high of $139.37. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The business has a 50 day simple moving average of $129.37 and a 200 day simple moving average of $125.48. The company has a market capitalization of $185.36 billion, a PE ratio of 39.08, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last issued 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 company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.96%. RTX's payout ratio is 79.77%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RTX. JPMorgan Chase & Co. lowered their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Argus upgraded RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. UBS Group increased their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen raised RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $159.82.

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.