Waterfront Wealth Inc. Boosts Stake in RTX Corporation (NYSE:RTX)

Waterfront Wealth Inc. increased its position in RTX Corporation (NYSE:RTX - Free Report) by 24.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 12,800 shares of the company's stock after purchasing an additional 2,548 shares during the period. Waterfront Wealth Inc.'s holdings in RTX were worth $1,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LaFleur & Godfrey LLC raised its stake in RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock valued at $20,620,000 after acquiring an additional 900 shares during the last quarter. Brighton Jones LLC raised its stake in 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 acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after acquiring an additional 159 shares during the last quarter. Tower Bridge Advisors raised its stake in RTX by 4.3% during the 4th quarter. Tower Bridge Advisors now owns 108,997 shares of the company's stock valued at $12,613,000 after acquiring an additional 4,455 shares during the last quarter. Finally, Flputnam Investment Management Co. raised its stake in RTX by 9.7% during the 4th quarter. Flputnam Investment Management Co. now owns 76,883 shares of the company's stock valued at $8,897,000 after acquiring an additional 6,819 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

RTX stock opened at $144.64 on Friday. RTX Corporation has a 1 year low of $99.07 and a 1 year high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock's 50 day moving average price is $134.87 and its 200 day moving average price is $128.37. The firm has a market cap of $193.23 billion, a P/E ratio of 42.42, a PEG ratio of 2.61 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, sell-side analysts expect 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 paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.88%. RTX's dividend payout ratio is presently 79.77%.

Analyst Upgrades and Downgrades

Several research firms have commented on RTX. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group boosted their target price on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. UBS Group boosted their target price on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the 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 transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 4,146 shares of the 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 completion of the transaction, the vice president now directly owns 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.