Bay Capital Advisors LLC Purchases New Shares in RTX Corporation (NYSE:RTX)

Bay Capital Advisors LLC purchased a new stake in RTX Corporation (NYSE:RTX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,692 shares of the company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Guerra Advisors Inc raised its position in RTX by 6.0% in the 1st quarter. Guerra Advisors Inc now owns 4,708 shares of the company’s stock valued at $624,000 after purchasing an additional 266 shares during the last quarter. Essex Financial Services Inc. increased its stake in RTX by 0.3% in the 1st quarter. Essex Financial Services Inc. now owns 76,828 shares of the company’s stock valued at $10,177,000 after buying an additional 250 shares during the period. Stonebridge Financial Group LLC increased its stake in RTX by 2.5% in the 1st quarter. Stonebridge Financial Group LLC now owns 19,388 shares of the company’s stock valued at $2,568,000 after buying an additional 470 shares during the period. Hills Bank & Trust Co increased its stake in RTX by 24.7% in the 1st quarter. Hills Bank & Trust Co now owns 4,547 shares of the company’s stock valued at $602,000 after buying an additional 901 shares during the period. Finally, Almanack Investment Partners LLC. increased its stake in RTX by 9.0% in the 1st quarter. Almanack Investment Partners LLC. now owns 1,963 shares of the company’s stock valued at $260,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Up 1.4%

Shares of RTX stock opened at $144.64 on Friday. The firm has a market cap of $193.23 billion, a P/E ratio of 42.42, a PEG ratio of 2.61 and a beta of 0.63. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm’s 50-day simple moving average is $134.87 and its 200-day simple moving average is $128.37.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.88%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RTX. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. UBS Group upped their price target on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, 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 note on Thursday, April 10th. Four 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.12.

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.