Means Investment CO. Inc. Has $1.95 Million Holdings in RTX Corporation (NYSE:RTX)

Means Investment CO. Inc. decreased its stake in RTX Corporation (NYSE:RTX) by 1.7% during the 1st quarter, HoldingsChannel reports. The fund owned 14,725 shares of the company’s stock after selling 256 shares during the period. Means Investment CO. Inc.’s holdings in RTX were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of RTX. 10Elms LLP acquired a new stake in RTX during the fourth quarter worth about $29,000. Fairway Wealth LLC acquired a new position in RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $39,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. UBS Group upped their target price on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price target on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Finally, Wells Fargo & Company upped their price target on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $159.82.

RTX Price Performance

Shares of RTX opened at $145.81 on Friday. The business has a 50-day simple moving average of $133.06 and a two-hundred day simple moving average of $127.23. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26. The stock has a market cap of $194.80 billion, a PE ratio of 42.76, a PEG ratio of 2.64 and a beta of 0.63. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

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

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

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.