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

Topsail Wealth Management LLC acquired a new position in RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,813 shares of the company's stock, valued at approximately $373,000.

A number of other large investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. raised its holdings in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after buying an additional 79 shares during the period. Guardian Wealth Advisors LLC NC raised its holdings in shares of RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after buying an additional 82 shares during the period. Foster Victor Wealth Advisors LLC raised its holdings in shares of RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after buying an additional 82 shares during the period. CLG LLC raised its holdings in shares of RTX by 2.3% during the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after buying an additional 83 shares during the period. Finally, 49 Wealth Management LLC raised its holdings in shares of RTX by 3.3% during the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after buying an additional 84 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RTX shares. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. 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. Cowen restated a "buy" rating on shares of RTX in a report on Friday, May 23rd. The Goldman Sachs Group lifted their price objective on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. 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.com, RTX has a consensus rating of "Moderate Buy" and an average target price of $161.12.

RTX Stock Performance

RTX stock traded up $0.29 during trading on Thursday, reaching $146.47. 4,130,468 shares of the company's stock were exchanged, compared to its average volume of 5,302,859. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 1-year low of $100.22 and a 1-year high of $149.26. The company's fifty day moving average price is $138.83 and its 200-day moving average price is $130.10. The firm has a market cap of $195.67 billion, a PE ratio of 42.95, a P/E/G 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 for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, research analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed 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 1.86%. RTX's dividend payout ratio (DPR) is 79.77%.

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 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 owned 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 4,146 shares of the business'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 sale, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

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.