Dividend Assets Capital LLC Has $1.85 Million Stake in RTX Co. (NYSE:RTX)

Dividend Assets Capital LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 8.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,929 shares of the company’s stock after selling 1,271 shares during the period. Dividend Assets Capital LLC’s holdings in RTX were worth $1,845,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. LaFleur & Godfrey LLC lifted its position in shares of RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock valued at $20,620,000 after buying an additional 900 shares during the last quarter. Brighton Jones LLC increased its stake in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after acquiring an additional 159 shares in the last quarter. Empowered Funds LLC grew its stake in shares of RTX by 4.9% during the fourth quarter. Empowered Funds LLC now owns 84,372 shares of the company’s stock valued at $9,764,000 after buying an additional 3,966 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of RTX by 2.7% in the 4th quarter. Stephens Inc. AR now owns 102,133 shares of the company’s stock valued at $11,819,000 after acquiring an additional 2,687 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 transaction of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm’s 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 transaction, the vice president now directly owns 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 disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RTX shares. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. UBS Group upped their price objective on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Finally, Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Three equities research 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $159.82.

RTX Stock Up 1.3%

Shares of RTX opened at $140.94 on Tuesday. RTX Co. has a 1 year low of $99.07 and a 1 year high of $141.33. The stock has a market capitalization of $188.29 billion, a price-to-earnings ratio of 39.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. The business’s 50 day simple moving average is $129.78 and its 200-day simple moving average is $125.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) 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. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

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

About RTX

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.