RTX Corporation (NYSE:RTX) Shares Purchased by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC grew its holdings in shares of RTX Corporation (NYSE:RTX) by 76.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,477 shares of the company’s stock after purchasing an additional 3,242 shares during the quarter. RTX makes up about 1.0% of Phillips Wealth Planners LLC’s portfolio, making the stock its 27th biggest holding. Phillips Wealth Planners LLC’s holdings in RTX were worth $959,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on RTX shares. Royal Bank Of Canada dropped their target price on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Finally, Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Four equities 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.com, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $161.12.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction 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 sale, the vice president now directly owns 9,546 shares in the company, valued at approximately $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 accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Stock Down 0.4%

Shares of NYSE RTX opened at $141.29 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $134.28 and its two-hundred day moving average is $127.93. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26. The firm has a market cap of $188.76 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 2.56 and a beta of 0.63.

RTX (NYSE:RTX) last posted 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 return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. Research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared 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 represents a $2.72 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. 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.