RTX Corporation (NYSE:RTX) Shares Bought by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. grew its stake in shares of RTX Corporation (NYSE:RTX) by 14.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,346 shares of the company’s stock after acquiring an additional 1,083 shares during the period. TCI Wealth Advisors Inc.’s holdings in RTX were worth $1,105,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Boston Trust Walden Corp acquired a new stake in shares of RTX during the 1st quarter valued at approximately $1,576,000. Johnson Investment Counsel Inc. lifted its position in shares of RTX by 4.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 34,481 shares of the company’s stock valued at $4,567,000 after acquiring an additional 1,515 shares during the period. Grandview Asset Management LLC acquired a new stake in shares of RTX during the 1st quarter valued at approximately $542,000. Builder Investment Group Inc. ADV lifted its position in shares of RTX by 1.7% during the 1st quarter. Builder Investment Group Inc. ADV now owns 49,798 shares of the company’s stock valued at $6,596,000 after acquiring an additional 815 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of RTX by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 156,079 shares of the company’s stock valued at $20,674,000 after acquiring an additional 4,330 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Down 1.8%

Shares of RTX opened at $145.81 on Thursday. The stock has a fifty day moving average of $132.69 and a two-hundred day moving average of $127.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a market capitalization of $194.80 billion, a PE ratio of 42.76, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26.

RTX (NYSE:RTX) last announced 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. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. As a group, analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

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

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business’s 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 of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction 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 sale, 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. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RTX shares. Royal Bank Of Canada cut their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Citigroup cut their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $159.82.

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.