SOL Capital Management CO Buys 425 Shares of RTX Corporation (NYSE:RTX)

SOL Capital Management CO lifted its stake in shares of RTX Corporation (NYSE:RTX) by 10.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,390 shares of the company’s stock after purchasing an additional 425 shares during the quarter. SOL Capital Management CO’s holdings in RTX were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. LaFleur & Godfrey LLC lifted its holdings in RTX by 0.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock worth $20,620,000 after buying an additional 900 shares during the period. Brighton Jones LLC boosted its holdings in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC increased its position in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after purchasing an additional 159 shares during the period. Lake Street Advisors Group LLC raised its holdings in RTX by 1.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 11,764 shares of the company’s stock worth $1,361,000 after purchasing an additional 162 shares during the last quarter. Finally, Simmons Bank lifted its position in shares of RTX by 6.1% in the 4th quarter. Simmons Bank now owns 29,599 shares of the company’s stock worth $3,425,000 after purchasing an additional 1,695 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RTX. Citigroup lowered their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research report on Wednesday, April 23rd. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price target on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $161.12.

Insider Activity at RTX

In related news, 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 transaction 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. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

RTX Stock Up 1.0%

RTX stock opened at $142.74 on Friday. The firm has a market capitalization of $190.69 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63. The firm’s fifty day moving average price is $134.55 and its two-hundred day moving average price is $128.11. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, equities research analysts predict 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. Investors of record on Friday, May 23rd were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.91%. This is an increase from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is 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.