Morey & Quinn Wealth Partners LLC Invests $222,000 in RTX Co. (NYSE:RTX)

Morey & Quinn Wealth Partners LLC purchased a new position in RTX Co. (NYSE:RTX) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 1,677 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors have also recently made changes to their positions in the company. National Pension Service boosted its stake in shares of RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after acquiring an additional 375,781 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after acquiring an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in RTX during the fourth quarter worth $3,356,000. Thoroughbred Financial Services LLC boosted its stake in RTX by 43.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock worth $3,046,000 after buying an additional 7,987 shares during the last quarter. Finally, Teewinot Capital Advisers L.L.C. boosted its stake in RTX by 188.6% during the fourth quarter. Teewinot Capital Advisers L.L.C. now owns 605,150 shares of the company’s stock worth $70,028,000 after buying an additional 395,434 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business’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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’s 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 transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a research note on Friday, April 25th. Finally, UBS Group lifted their target price on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Three investment 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 company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $159.82.

RTX Price Performance

RTX stock opened at $145.47 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $194.34 billion, a PE ratio of 40.98, a P/E/G ratio of 2.11 and a beta of 0.63. RTX Co. has a 12-month low of $99.07 and a 12-month high of $146.02. The business’s fifty day moving average price is $131.41 and its 200 day moving average price is $126.54.

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, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

RTX 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.