RTX Co. (NYSE:RTX) Stock Position Cut by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC lessened its stake in RTX Co. (NYSE:RTX) by 3.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,803 shares of the company’s stock after selling 538 shares during the period. Boomfish Wealth Group LLC’s holdings in RTX were worth $1,828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LaFleur & Godfrey LLC lifted its holdings 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 position in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC increased its position 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 valued at $564,000 after purchasing an additional 159 shares during the period. Vontobel Holding Ltd. grew its position in RTX by 21.2% in the fourth quarter. Vontobel Holding Ltd. now owns 36,346 shares of the company’s stock valued at $4,206,000 after acquiring an additional 6,350 shares during the period. Finally, Principal Securities Inc. grew its position in RTX by 27.5% in the fourth quarter. Principal Securities Inc. now owns 39,439 shares of the company’s stock valued at $4,564,000 after acquiring an additional 8,513 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, 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 completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated 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 completion of the sale, the executive vice president now 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. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RTX shares. Cowen restated a “buy” rating on shares of RTX in a report on Friday, May 23rd. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Finally, DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $159.82.

RTX Stock Performance

Shares of RTX stock opened at $146.43 on Tuesday. The stock has a fifty day moving average of $131.94 and a 200 day moving average of $126.76. RTX Co. has a 52 week low of $99.07 and a 52 week high of $149.04. The firm has a market capitalization of $195.62 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.11 and a beta of 0.63. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. 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%. RTX’s dividend payout ratio (DPR) is presently 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.