Barnes Dennig Private Wealth Management LLC Purchases Shares of 1,972 RTX Corporation (NYSE:RTX)

Barnes Dennig Private Wealth Management LLC acquired a new position in shares of RTX Corporation (NYSE:RTX) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,972 shares of the company’s stock, valued at approximately $261,000.

Several other hedge funds also recently modified their holdings of the company. LaFleur & Godfrey LLC grew its holdings in shares of RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock worth $20,620,000 after purchasing an additional 900 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of 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 buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC lifted 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 worth $564,000 after buying an additional 159 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in RTX by 30.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 10,630 shares of the company’s stock worth $1,225,000 after acquiring an additional 2,455 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in RTX in the 4th quarter valued at about $152,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $146.17 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26. The business has a 50 day simple moving average of $135.27 and a 200 day simple moving average of $128.66. The stock has a market cap of $195.28 billion, a price-to-earnings ratio of 42.87, a PEG ratio of 2.61 and a beta of 0.63.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. RTX’s dividend payout ratio is 79.77%.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction 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 transaction, the vice president directly owned 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 transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $2,328,805.64. Following the sale, the executive vice president owned 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 disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RTX shares. Wells Fargo & Company upped their target price on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Citigroup dropped their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group lifted their price target on shares of RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, June 23rd. Susquehanna cut their price objective on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average price target of $161.12.

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.