Welch Group LLC Has $68.76 Million Position in RTX Co. (NYSE:RTX)

Welch Group LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 3.7% during the 1st quarter, HoldingsChannel reports. The fund owned 522,020 shares of the company’s stock after selling 20,083 shares during the quarter. RTX makes up approximately 3.0% of Welch Group LLC’s investment portfolio, making the stock its 9th biggest holding. Welch Group LLC’s holdings in RTX were worth $68,760,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. 1620 Investment Advisors Inc. grew its stake in shares of RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after purchasing an additional 79 shares during the period. Fusion Capital LLC boosted its holdings in shares of RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after acquiring an additional 80 shares in the last quarter. McDonough Capital Management Inc boosted its holdings in shares of RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after acquiring an additional 80 shares in the last quarter. New England Professional Planning Group Inc. boosted its holdings in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after acquiring an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC lifted its holdings in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RTX has been the topic of several research reports. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Bank of America upped their price objective on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Finally, Royal Bank of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $159.82.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the 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 sale, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

RTX Trading Up 1.5%

NYSE:RTX opened at $134.84 on Friday. RTX Co. has a one year low of $99.07 and a one year high of $139.92. The firm has a 50-day moving average of $129.08 and a 200-day moving average of $125.03. The company has a market cap of $180.14 billion, a PE ratio of 37.98, a PEG ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last released 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. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities research analysts expect that RTX Co. will post 6.11 EPS 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 paid a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio is presently 79.77%.

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.