WealthBridge Capital Management LLC Takes $365,000 Position in RTX Corporation (NYSE:RTX)

WealthBridge Capital Management LLC acquired a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,753 shares of the company's stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. 10Elms LLP bought a new stake in shares of RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management increased its holdings in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX in the 4th quarter valued at $39,000. Institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Four research 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $161.12.

RTX Trading Up 1.4%

Shares of RTX opened at $144.64 on Friday. The business has a 50-day moving average of $134.87 and a 200 day moving average of $128.29. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26. The firm has a market cap of $193.23 billion, a P/E ratio of 42.42, a price-to-earnings-growth ratio of 2.58 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. As a group, research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.88%. RTX's payout ratio is presently 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 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 sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares of the company's stock, 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 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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