Global Assets Advisory LLC Invests $301,000 in RTX Corporation (NYSE:RTX)

Global Assets Advisory LLC purchased a new position in RTX Corporation (NYSE:RTX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,367 shares of the company’s stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RTX. 10Elms LLP purchased a new position in RTX during the fourth quarter valued at $29,000. Fairway Wealth LLC purchased a new position in RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management lifted 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 purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in RTX during the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC purchased a new position in RTX during the fourth quarter valued at $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group raised their price target on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Finally, Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.12.

RTX Trading Down 0.4%

Shares of NYSE RTX opened at $141.29 on Thursday. The business’s 50 day moving average is $134.28 and its two-hundred day moving average is $127.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The stock has a market capitalization of $188.76 billion, a P/E ratio of 41.43, a PEG ratio of 2.56 and a beta of 0.63.

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

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. RTX’s payout ratio is presently 79.77%.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business’s 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade 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.

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.