RTX Co. (NYSE:RTX) Shares Acquired by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC increased its position in RTX Co. (NYSE:RTX) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,869 shares of the company’s stock after acquiring an additional 1,120 shares during the period. Birch Hill Investment Advisors LLC’s holdings in RTX were worth $5,281,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RTX. Vanguard Group Inc. boosted its holdings in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares in the last quarter. Fisher Asset Management LLC grew its position in 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. increased its stake in RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after buying an additional 603,159 shares during the period. Finally, Norges Bank acquired a new position in shares of RTX in the fourth quarter worth about $1,745,644,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of NYSE:RTX opened at $146.43 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business’s fifty day moving average price is $131.94 and its two-hundred day moving average price is $126.76. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $149.04. The stock has a market capitalization of $195.62 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last announced its 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 business had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.68 dividend. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, May 23rd. RTX’s payout ratio is presently 79.77%.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. Finally, Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $159.82.

Insider Buying and Selling

In other RTX news, 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 owns 16,538 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value 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. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

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.