United Bank Makes New $804,000 Investment in RTX Corporation (NYSE:RTX)

United Bank purchased a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,071 shares of the company's stock, valued at approximately $804,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after acquiring an additional 159 shares during the last quarter. Millstone Evans Group LLC bought a new stake in RTX in the 4th quarter worth approximately $39,000. Summit Global Investments purchased a new position in shares of RTX in the 4th quarter worth approximately $614,000. Finally, AXQ Capital LP boosted its holdings in shares of RTX by 38.7% in the 4th quarter. AXQ Capital LP now owns 3,046 shares of the company's stock worth $352,000 after purchasing an additional 850 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president 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 can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Stock Down 1.8%

NYSE RTX traded down $2.69 during trading hours on Tuesday, hitting $148.87. The company had a trading volume of 4,574,977 shares, compared to its average volume of 5,279,086. RTX Corporation has a fifty-two week low of $102.62 and a fifty-two week high of $153.39. The company has a market capitalization of $198.89 billion, a price-to-earnings ratio of 43.63, a P/E/G ratio of 2.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm's 50 day moving average is $141.35 and its 200 day moving average is $131.70.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.71% and a net margin of 5.63%. The company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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 given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.83%. RTX's dividend payout ratio (DPR) is 79.77%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RTX shares. Sanford C. Bernstein set a $154.00 target price on RTX and gave the stock a "market perform" rating in a report on Friday, July 11th. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday. UBS Group boosted their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada reduced their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley increased their price objective on RTX from $135.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $164.28.

RTX Company 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.

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