Topsail Wealth Management LLC Makes New $373,000 Investment in RTX Corporation (NYSE:RTX)

Topsail Wealth Management LLC acquired a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,813 shares of the company's stock, valued at approximately $373,000.

Several other hedge funds also recently made changes to their positions in RTX. Vanguard Group Inc. grew its stake in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after buying an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after buying an additional 1,000,722 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after buying an additional 603,159 shares during the last quarter. Norges Bank bought a new stake in shares of RTX during the fourth quarter worth $1,745,644,000. Finally, Northern Trust Corp grew its stake in shares of RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after purchasing an additional 997,806 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated 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 sale, the vice president directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Trading Up 0.3%

RTX stock traded up $0.40 during midday trading on Friday, hitting $146.80. The stock had a trading volume of 3,468,750 shares, compared to its average volume of 5,283,474. The business has a fifty day moving average price of $139.16 and a two-hundred day moving average price of $130.40. RTX Corporation has a 1-year low of $101.52 and a 1-year high of $149.26. The firm has a market cap of $196.12 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

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. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business 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 dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.85%. RTX's dividend payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several analyst reports. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Morgan Stanley raised 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. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Finally, Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

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.