Greatmark Investment Partners Inc. Has $730,000 Position in RTX Corporation (NYSE:RTX)

Greatmark Investment Partners Inc. increased its stake in shares of RTX Corporation (NYSE:RTX) by 41.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,512 shares of the company’s stock after purchasing an additional 1,604 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in RTX were worth $730,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Franklin Resources Inc. boosted its holdings in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after purchasing an additional 603,159 shares during the period. Norges Bank acquired a new stake in shares of RTX during the fourth quarter worth approximately $1,745,644,000. Finally, Northern Trust Corp boosted its holdings in shares of RTX by 8.4% during the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company’s stock worth $1,494,257,000 after purchasing an additional 997,806 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of the business’s 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 transaction, the vice president owned 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on RTX. JPMorgan Chase & Co. reduced their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Wells Fargo & Company lifted their target price on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Cowen reiterated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Susquehanna reduced their target price on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Finally, Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.12.

RTX Trading Up 0.3%

NYSE:RTX opened at $146.80 on Friday. RTX Corporation has a 12 month low of $101.52 and a 12 month high of $149.26. The firm has a market cap of $196.12 billion, a price-to-earnings ratio of 43.05, a P/E/G ratio of 2.73 and a beta of 0.64. 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 company’s 50 day moving average is $139.16 and its 200-day moving average is $130.40.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (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. Equities analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business 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 1.85%. RTX’s dividend payout ratio (DPR) is currently 79.77%.

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.