Trek Financial LLC Raises Stock Position in RTX Corporation (NYSE:RTX)

Trek Financial LLC raised its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 376.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,461 shares of the company's stock after buying an additional 7,476 shares during the period. Trek Financial LLC's holdings in RTX were worth $1,253,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC bought a new position in RTX in the 1st quarter worth $26,000. 10Elms LLP bought a new position in shares of RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC bought a new position in shares of RTX during the 4th quarter valued at 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 valued at $31,000 after purchasing an additional 265 shares during the last quarter. Finally, Greenline Partners LLC bought a new position in shares of RTX during the 4th quarter valued at about $34,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 1.0%

RTX stock traded up $1.49 during trading on Wednesday, hitting $146.40. 2,663,751 shares of the company's stock traded hands, compared to its average volume of 5,313,603. The firm has a market capitalization of $195.58 billion, a P/E ratio of 42.93, a PEG ratio of 2.64 and a beta of 0.64. The business has a fifty day simple moving average of $138.04 and a two-hundred day simple moving average of $129.77. 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 $99.42 and a 1 year high of $149.26.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results 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 company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

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

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction 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 sale, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on 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 owned 16,538 shares of the company's stock, valued at $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.

Analyst Ratings Changes

Several research analysts have commented on the stock. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a report on Friday, April 25th. The Goldman Sachs Group increased their price target on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Royal Bank Of Canada lowered their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Susquehanna lowered their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and an average price target of $161.12.

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.