Summit Place Financial Advisors LLC Has $4.29 Million Stock Holdings in RTX Corporation (NYSE:RTX)

Summit Place Financial Advisors LLC boosted its stake in shares of RTX Corporation (NYSE:RTX) by 0.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,352 shares of the company’s stock after acquiring an additional 116 shares during the period. RTX accounts for 2.4% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 7th largest holding. Summit Place Financial Advisors LLC’s holdings in RTX were worth $4,285,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LaFleur & Godfrey LLC raised its position in RTX by 0.5% in the 4th 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 period. Brighton Jones LLC boosted 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 purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC increased its holdings 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 purchasing an additional 159 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in RTX by 47.4% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,922 shares of the company’s stock valued at $338,000 after purchasing an additional 939 shares in the last quarter. Finally, Cypress Capital Group lifted its holdings in shares of RTX by 6.4% in the 4th quarter. Cypress Capital Group now owns 40,857 shares of the company’s stock worth $4,728,000 after buying an additional 2,461 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Susquehanna cut their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Royal Bank Of Canada reduced their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Cowen reiterated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.12.

RTX Stock Performance

Shares of RTX opened at $144.51 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $193.06 billion, a PE ratio of 42.38, a P/E/G ratio of 2.61 and a beta of 0.64. RTX Corporation has a 12 month low of $99.42 and a 12 month high of $149.26. The stock has a fifty day moving average price of $136.35 and a 200-day moving average price of $128.88.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 12.71% and a net margin of 5.63%. Equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction on 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 owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the vice president owned 9,546 shares of the company’s stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

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.