Topsail Wealth Management LLC Invests $373,000 in RTX Corporation (NYSE:RTX)

Topsail Wealth Management LLC acquired a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,813 shares of the company's stock, valued at approximately $373,000.

A number of other large investors have also added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC purchased a new position in shares of RTX in the first quarter worth $26,000. 10Elms LLP bought a new position in RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC bought a new position in RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management lifted its stake 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. Finally, Greenline Partners LLC bought a new position in RTX during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Price Performance

RTX traded up $1.49 during trading on Wednesday, reaching $146.40. 2,663,751 shares of the company traded hands, compared to its average volume of 5,313,606. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 12-month low of $99.42 and a 12-month high of $149.26. The firm has a fifty day simple moving average of $138.04 and a 200 day simple moving average of $129.77. The company has a market cap of $195.58 billion, a P/E ratio of 42.93, a PEG ratio of 2.64 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (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 analyst estimates of $19.80 billion. On average, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

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 given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.86%. RTX's dividend payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RTX. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Susquehanna lowered their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group increased their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Finally, Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction 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 in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The sale 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 firm'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 completion of the sale, the vice president owned 9,546 shares of the company's stock, valued at approximately $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 corporate 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.