Marietta Wealth Management LLC Raises Position in RTX Corporation (NYSE:RTX)

Marietta Wealth Management LLC boosted its stake in RTX Corporation (NYSE:RTX) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,097 shares of the company’s stock after buying an additional 423 shares during the period. RTX accounts for approximately 1.3% of Marietta Wealth Management LLC’s portfolio, making the stock its 26th largest position. Marietta Wealth Management LLC’s holdings in RTX were worth $9,020,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Worth Financial Advisory Group LLC lifted its holdings in shares of RTX by 4.8% during the first quarter. Worth Financial Advisory Group LLC now owns 4,323 shares of the company’s stock valued at $573,000 after purchasing an additional 199 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of RTX by 7.4% during the first quarter. PFG Investments LLC now owns 20,485 shares of the company’s stock valued at $2,713,000 after purchasing an additional 1,419 shares during the last quarter. Rockline Wealth Management LLC lifted its holdings in shares of RTX by 3.4% during the first quarter. Rockline Wealth Management LLC now owns 34,976 shares of the company’s stock valued at $4,633,000 after purchasing an additional 1,149 shares during the last quarter. Advisor Resource Council purchased a new position in shares of RTX during the first quarter valued at approximately $1,030,000. Finally, Segment Wealth Management LLC purchased a new position in shares of RTX during the first quarter valued at approximately $315,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target for the company in a research report on Wednesday, April 23rd. Susquehanna reduced their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and raised their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company raised their price target on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.82.

RTX Price Performance

Shares of RTX opened at $146.75 on Friday. The firm has a market cap of $196.05 billion, a PE ratio of 43.04, a P/E/G ratio of 2.64 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $133.43 and a two-hundred day simple moving average of $127.42. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26.

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

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.85%. RTX’s payout ratio is presently 79.77%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’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. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 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.