LMG Wealth Partners LLC Boosts Stock Position in RTX Corporation (NYSE:RTX)

LMG Wealth Partners LLC lifted its position in RTX Corporation (NYSE:RTX) by 1.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 68,086 shares of the company’s stock after buying an additional 728 shares during the quarter. RTX accounts for approximately 2.0% of LMG Wealth Partners LLC’s portfolio, making the stock its 12th biggest position. LMG Wealth Partners LLC’s holdings in RTX were worth $9,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mechanics Financial Corp raised its holdings in shares of RTX by 44.0% in the 1st quarter. Mechanics Financial Corp now owns 8,941 shares of the company’s stock valued at $1,184,000 after buying an additional 2,731 shares during the period. SeaBridge Investment Advisors LLC raised its holdings in shares of RTX by 1.8% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 24,060 shares of the company’s stock valued at $3,187,000 after buying an additional 419 shares during the period. Cullen Frost Bankers Inc. grew its stake in RTX by 9.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 107,018 shares of the company’s stock worth $14,176,000 after purchasing an additional 9,074 shares in the last quarter. Bridgewater Advisors Inc. acquired a new position in RTX during the 1st quarter worth $1,110,000. Finally, Midwest Professional Planners LTD. grew its stake in RTX by 29.6% during the 1st quarter. Midwest Professional Planners LTD. now owns 20,631 shares of the company’s stock worth $2,733,000 after purchasing an additional 4,715 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX stock opened at $148.88 on Wednesday. RTX Corporation has a 52-week low of $101.75 and a 52-week high of $150.75. The stock’s fifty day simple moving average is $139.99 and its 200-day simple moving average is $130.84. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $198.90 billion, a price-to-earnings ratio of 43.66, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $19.80 billion. Equities research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.83%. RTX’s dividend payout ratio (DPR) is currently 79.77%.

Analyst Ratings Changes

Several research analysts recently commented on RTX shares. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley raised 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. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. The Goldman Sachs Group upped their price objective on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, June 23rd. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given 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 target price of $162.61.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the 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 completion of the transaction, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

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.