Baldwin Wealth Partners LLC MA Acquires Shares of 1,676 RTX Co. (NYSE:RTX)

Baldwin Wealth Partners LLC MA acquired a new stake in RTX Co. (NYSE:RTX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,676 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter worth $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the 4th quarter worth $31,000. Picton Mahoney Asset Management raised its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC purchased a new position in shares of RTX during the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on RTX shares. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Cowen restated a “buy” rating on shares of RTX in a report on Friday, May 23rd. 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 report on Wednesday, April 23rd. Royal Bank of Canada reduced their price objective on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $159.82.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Stock Up 1.3%

RTX stock opened at $140.94 on Tuesday. The company’s 50 day moving average price is $129.78 and its 200 day moving average price is $125.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $141.29. The firm has a market capitalization of $188.29 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $19.80 billion. On average, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio is presently 79.77%.

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.