Petros Family Wealth LLC Has $913,000 Stock Position in RTX Corporation (NYSE:RTX)

Petros Family Wealth LLC reduced its holdings in shares of RTX Corporation (NYSE:RTX) by 3.7% in the first quarter, Holdings Channel reports. The institutional investor owned 6,889 shares of the company’s stock after selling 266 shares during the period. RTX makes up 1.0% of Petros Family Wealth LLC’s investment portfolio, making the stock its 26th largest holding. Petros Family Wealth LLC’s holdings in RTX were worth $913,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in RTX in the fourth quarter valued at about $1,745,644,000. GAMMA Investing LLC boosted its stake in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after acquiring an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Amundi boosted its stake in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after acquiring an additional 2,854,928 shares during the last quarter. Finally, Capital Wealth Planning LLC bought a new stake in shares of RTX in the fourth quarter valued at approximately $216,340,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm’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 completion of the transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. UBS Group boosted their price target on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Citigroup lowered their price target on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company upped their target price on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Finally, Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $161.12.

RTX Price Performance

RTX stock opened at $145.90 on Tuesday. The company’s fifty day moving average price is $133.77 and its 200 day moving average price is $127.74. RTX Corporation has a 1 year low of $99.07 and a 1 year high of $149.26. The stock has a market capitalization of $194.92 billion, a P/E ratio of 42.79, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm 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%. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio is currently 79.77%.

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.