Western Wealth Management LLC Grows Stake in RTX Corporation (NYSE:RTX)

by · The Cerbat Gem

Western Wealth Management LLC increased its holdings in shares of RTX Corporation (NYSE:RTX – Free Report) by 4.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 13,092 shares of the company’s stock after acquiring an additional 535 shares during the period. Western Wealth Management LLC’s holdings in RTX were worth $1,734,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its position in shares of RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock worth $4,591,000 after purchasing an additional 2,686 shares in the last quarter. Deutsche Bank AG boosted its stake in RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after buying an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in RTX during the 4th quarter valued at approximately $3,356,000. Thoroughbred Financial Services LLC grew its holdings in RTX by 43.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock valued at $3,046,000 after buying an additional 7,987 shares in the last quarter. Finally, Advisor Resource Council purchased a new position in RTX during the 1st quarter valued at approximately $1,030,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $142.74 on Friday. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market capitalization of $190.69 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.56 and a beta of 0.63. The stock has a 50 day moving average price of $134.55 and a 200 day moving average price of $128.11.

RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.68 per share. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.91%. RTX’s payout ratio is 79.77%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and raised their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target for the company in a report on Wednesday, April 23rd. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a report on Friday, April 25th. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and an average target price of $161.12.

View Our Latest Report on RTX

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at approximately $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. 0.15% of the stock is currently owned by corporate insiders.

RTX Company 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.

See Also

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