Turtle Creek Wealth Advisors LLC Purchases 10,870 Shares of RTX Corporation (NYSE:RTX)

Turtle Creek Wealth Advisors LLC raised its stake in RTX Corporation (NYSE:RTX - Free Report) by 86.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,417 shares of the company's stock after acquiring an additional 10,870 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in RTX were worth $3,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RTX. Norges Bank acquired a new position in RTX in the fourth quarter worth $1,745,644,000. GAMMA Investing LLC boosted its stake in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Invesco Ltd. boosted its stake in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Trading Up 1.0%

NYSE RTX traded up $1.53 on Thursday, reaching $151.70. The company had a trading volume of 4,325,793 shares, compared to its average volume of 5,274,857. RTX Corporation has a 52 week low of $102.62 and a 52 week high of $151.99. The stock's 50 day moving average is $140.89 and its 200-day moving average is $131.23. The stock has a market cap of $202.66 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 2.79 and a beta of 0.64. 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 (NYSE:RTX - Get Free Report) last announced its quarterly 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 return on equity of 12.71% and a net margin of 5.63%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 1.79%. RTX's dividend payout ratio (DPR) is currently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent analyst reports. Robert W. Baird raised 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. Susquehanna cut their price target on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. UBS Group upped their price target on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley upped their price target on RTX from $135.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and an average target price of $164.28.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated 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 transaction, the executive vice president 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. 0.15% of the stock is 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.