Golden State Wealth Management LLC Purchases 7,797 Shares of RTX Corporation (NYSE:RTX)

Golden State Wealth Management LLC grew its position in shares of RTX Corporation (NYSE:RTX) by 199.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 11,703 shares of the company’s stock after buying an additional 7,797 shares during the quarter. Golden State Wealth Management LLC’s holdings in RTX were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction 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 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 document filed with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank Of Canada cut their target price on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 23rd. Citigroup dropped their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Four 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 stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $161.12.

RTX Stock Performance

NYSE RTX opened at $141.29 on Thursday. The firm’s fifty day moving average price is $134.28 and its two-hundred day moving average price is $127.93. The stock has a market cap of $188.76 billion, a PE ratio of 41.43, a PEG ratio of 2.56 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 Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share 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 company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, equities analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

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

RTX 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.