Hughes Financial Services LLC Takes Position in RTX Corporation (NYSE:RTX)

Hughes Financial Services LLC acquired a new stake in shares of RTX Corporation (NYSE:RTX) during the first quarter, HoldingsChannel reports. The firm acquired 505 shares of the company’s stock, valued at approximately $67,000.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Brighton Jones LLC increased its position in shares of RTX by 24.3% during 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 grew its position in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after acquiring an additional 159 shares during the period. Proficio Capital Partners LLC grew its position in RTX by 65.5% in the fourth quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company’s stock valued at $1,043,000 after acquiring an additional 3,568 shares during the period. Picton Mahoney Asset Management grew its position in 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 acquiring an additional 265 shares during the period. Finally, Frank Rimerman Advisors LLC grew its position in RTX by 9.3% in the fourth quarter. Frank Rimerman Advisors LLC now owns 6,229 shares of the company’s stock valued at $721,000 after acquiring an additional 531 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on RTX. Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a report on Friday, April 25th. Cowen restated a “buy” rating on shares of RTX in a report on Friday, May 23rd. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Four equities 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’s stock. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average price target of $161.12.

RTX Stock Performance

Shares of NYSE RTX opened at $146.80 on Monday. The stock has a 50 day moving average price of $139.16 and a 200 day moving average price of $130.49. RTX Corporation has a 52 week low of $101.52 and a 52 week high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a market capitalization of $196.12 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.85%. RTX’s payout ratio 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.