Vest Financial LLC Has $2.66 Million Position in RTX Co. (NYSE:RTX)

Vest Financial LLC lifted its stake in RTX Co. (NYSE:RTX) by 73.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,069 shares of the company’s stock after acquiring an additional 8,498 shares during the quarter. Vest Financial LLC’s holdings in RTX were worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RTX. Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC raised its position in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after buying an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares during the last quarter. Franklin Resources Inc. raised its position in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after buying an additional 603,159 shares during the last quarter. Finally, Norges Bank acquired a new position in RTX in the fourth quarter worth about $1,745,644,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 0.1%

Shares of RTX stock opened at $139.21 on Friday. The firm has a market capitalization of $185.98 billion, a P/E ratio of 39.21, a PEG ratio of 2.11 and a beta of 0.60. The firm’s fifty day moving average price is $129.63 and its two-hundred day moving average price is $125.80. RTX Co. has a 1 year low of $99.07 and a 1 year high of $140.65. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last released 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 for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business 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 $0.68 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.95%. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is 79.77%.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Citigroup reduced their price objective on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada reduced their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Three investment 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. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $159.82.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the 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 sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is 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.