Strategic Investment Advisors MI Acquires 183 Shares of RTX Corporation (NYSE:RTX)

Strategic Investment Advisors MI boosted its holdings in shares of RTX Corporation (NYSE:RTX) by 4.9% during the first quarter, HoldingsChannel reports. The fund owned 3,895 shares of the company’s stock after purchasing an additional 183 shares during the quarter. Strategic Investment Advisors MI’s holdings in RTX were worth $516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Horizon Bancorp Inc. IN grew its stake in shares of RTX by 82.8% in the first quarter. Horizon Bancorp Inc. IN now owns 1,980 shares of the company’s stock worth $262,000 after purchasing an additional 897 shares during the last quarter. Symmetry Partners LLC boosted its stake in shares of RTX by 11.7% in the 1st quarter. Symmetry Partners LLC now owns 2,524 shares of the company’s stock valued at $334,000 after purchasing an additional 264 shares during the last quarter. Carl Stuart Investment Advisor Inc. acquired a new stake in shares of RTX during the first quarter worth $202,000. Cornerstone Wealth Group LLC raised its stake in RTX by 78.1% during the first quarter. Cornerstone Wealth Group LLC now owns 5,206 shares of the company’s stock worth $690,000 after buying an additional 2,283 shares during the last quarter. Finally, Vectors Research Management LLC lifted its holdings in RTX by 0.8% in the first quarter. Vectors Research Management LLC now owns 38,294 shares of the company’s stock valued at $5,072,000 after buying an additional 306 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent analyst reports. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. UBS Group boosted their price target on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced 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. Four investment 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. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $161.12.

RTX Stock Performance

Shares of RTX stock opened at $141.29 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $134.28 and a two-hundred day simple moving average of $127.93. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The firm has a market capitalization of $188.76 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business 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 is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.93%. RTX’s dividend payout ratio is 79.77%.

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was 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 approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

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.