Wealth Enhancement Advisory Services LLC Grows Stock Position in RTX Co. (NYSE:RTX)

Wealth Enhancement Advisory Services LLC grew its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 49.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 985,262 shares of the company's stock after buying an additional 325,667 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of RTX worth $114,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC raised its position in shares of RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock worth $20,620,000 after purchasing an additional 900 shares during the period. Brighton Jones LLC raised its position in RTX by 24.3% in 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 during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in RTX by 51.5% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,451 shares of the company's stock valued at $2,019,000 after buying an additional 5,929 shares during the last quarter. Blue Trust Inc. raised its position in RTX by 11.2% in the 4th quarter. Blue Trust Inc. now owns 23,382 shares of the company's stock valued at $2,833,000 after buying an additional 2,354 shares during the last quarter. Finally, KBC Group NV raised its position in RTX by 3.3% in the 4th quarter. KBC Group NV now owns 108,768 shares of the company's stock valued at $12,587,000 after buying an additional 3,471 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Stock Up 1.2%

Shares of RTX traded up $1.63 during trading hours on Friday, reaching $136.43. The stock had a trading volume of 8,195,041 shares, compared to its average volume of 5,407,482. RTX Co. has a 12 month low of $99.07 and a 12 month high of $138.82. The firm has a 50-day simple moving average of $129.09 and a 200 day simple moving average of $125.12. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $182.26 billion, a price-to-earnings ratio of 38.43, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio (DPR) is presently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent research reports. Royal Bank of Canada dropped 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. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Susquehanna lowered their price target on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Cowen reaffirmed a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $159.82.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is currently owned by company insiders.

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.