RTX Corporation (NYSE:RTX) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. grew its position in shares of RTX Corporation (NYSE:RTX) by 0.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 76,828 shares of the company’s stock after acquiring an additional 250 shares during the period. RTX comprises about 0.7% of Essex Financial Services Inc.’s holdings, making the stock its 25th largest position. Essex Financial Services Inc.’s holdings in RTX were worth $10,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 10Elms LLP acquired a new stake in shares of RTX in the fourth quarter valued at about $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management grew its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Royal Bank Of Canada lowered their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Finally, Susquehanna lowered their price objective on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. 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 stock. According to MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $161.12.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction that occurred 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 owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

RTX Trading Up 1.4%

NYSE:RTX opened at $144.64 on Friday. 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 $134.87 and its two-hundred day moving average is $128.37. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26. The company has a market cap of $193.23 billion, a PE ratio of 42.42, a P/E/G ratio of 2.61 and a beta of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $19.80 billion. On average, analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.88%. RTX’s dividend payout ratio (DPR) is 79.77%.

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.