Terra Nova Asset Management LLC Acquires 112 Shares of RTX Corporation (NYSE:RTX)

Terra Nova Asset Management LLC grew its holdings in RTX Corporation (NYSE:RTX) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,518 shares of the company’s stock after acquiring an additional 112 shares during the quarter. RTX accounts for 1.8% of Terra Nova Asset Management LLC’s portfolio, making the stock its 22nd largest holding. Terra Nova Asset Management LLC’s holdings in RTX were worth $2,320,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. 1620 Investment Advisors Inc. boosted its position in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after acquiring an additional 79 shares during the period. Fusion Capital LLC boosted its position in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock valued at $1,754,000 after acquiring an additional 80 shares during the period. McDonough Capital Management Inc boosted its position in shares of RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after acquiring an additional 80 shares during the period. Pointe Capital Management LLC boosted its position in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after acquiring an additional 81 shares during the period. Finally, Guardian Wealth Advisors LLC NC boosted its position in shares of RTX by 1.7% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company’s stock valued at $576,000 after acquiring an additional 82 shares during the period. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of several research reports. Morgan Stanley raised 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. UBS Group raised their target price on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research report on Friday, April 25th. The Goldman Sachs Group raised their target price on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.12.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the firm’s 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 completion of 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 filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

Shares of NYSE:RTX opened at $141.29 on Thursday. RTX Corporation has a twelve month low of $99.07 and a twelve month high of $149.26. The firm has a market cap of $188.76 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 2.56 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. The business has a fifty day moving average of $134.28 and a 200-day moving average of $127.93.

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

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. RTX’s dividend payout ratio (DPR) is 79.77%.

RTX 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.