Annex Advisory Services LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

by · The Markets Daily

Annex Advisory Services LLC boosted its holdings in RTX Co. (NYSE:RTX – Free Report) by 14.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,836 shares of the company’s stock after purchasing an additional 351 shares during the quarter. Annex Advisory Services LLC’s holdings in RTX were worth $376,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock valued at $13,710,408,000 after buying an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock valued at $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of RTX by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Finally, Norges Bank purchased a new stake in RTX during the fourth quarter worth about $1,745,644,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on 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 of the company’s stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on RTX shares. Wells Fargo & Company boosted their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Benchmark raised shares of 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. Finally, DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $159.82.

Check Out Our Latest Report on RTX

RTX Stock Performance

Shares of RTX stock opened at $138.99 on Friday. RTX Co. has a one year low of $99.07 and a one year high of $139.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a 50 day moving average price of $129.50 and a 200 day moving average price of $125.61. The firm has a market capitalization of $185.68 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX – Get Free Report) last issued its quarterly 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 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.68 per share. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.96%. RTX’s dividend payout ratio is 79.77%.

RTX Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Co. (NYSE:RTX – Free Report).