Consolidated Planning Corp Buys 31,827 Shares of RTX Corporation (NYSE:RTX)

Consolidated Planning Corp raised its position in shares of RTX Corporation (NYSE:RTX) by 1,085.5% during the first quarter, HoldingsChannel reports. The fund owned 34,759 shares of the company’s stock after acquiring an additional 31,827 shares during the quarter. Consolidated Planning Corp’s holdings in RTX were worth $4,604,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. 10Elms LLP bought a new position in RTX during the fourth quarter valued at $29,000. Fairway Wealth LLC bought a new position in RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management increased its position in 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 during the last quarter. Greenline Partners LLC bought a new position in RTX during the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX during the fourth quarter valued at $39,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were 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 in the company, 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 Stock Performance

RTX stock opened at $146.75 on Monday. The firm has a market cap of $196.05 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 2.65 and a beta of 0.63. The firm has a 50-day simple moving average of $133.43 and a two-hundred day simple moving average of $127.54. RTX Corporation has a one year low of $99.07 and a one year high of $149.66. 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) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.85%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio is presently 79.77%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada lowered their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Citigroup lowered their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. Finally, Susquehanna lowered their target price on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.82.

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.