Midwest Professional Planners LTD. Buys 4,715 Shares of RTX Corporation (NYSE:RTX)

Midwest Professional Planners LTD. boosted its stake in RTX Corporation (NYSE:RTX) by 29.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 20,631 shares of the company’s stock after acquiring an additional 4,715 shares during the quarter. Midwest Professional Planners LTD.’s holdings in RTX were worth $2,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RTX. Brighton Jones LLC grew its holdings in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC grew its holdings in RTX by 3.4% in the fourth 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. Proficio Capital Partners LLC grew its holdings in RTX by 65.5% in the fourth quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company’s stock worth $1,043,000 after purchasing an additional 3,568 shares during the period. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of RTX by 0.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 81,470 shares of the company’s stock valued at $9,428,000 after buying an additional 664 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, 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 transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% 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.

RTX Stock Up 1.8%

Shares of RTX stock opened at $149.47 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1 year low of $101.52 and a 1 year high of $150.22. The firm’s 50-day moving average is $139.16 and its two-hundred day moving average is $130.49. The stock has a market cap of $199.68 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 2.73 and a beta of 0.64.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating 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 analysts’ expectations of $19.80 billion. As a group, research analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 1.82%. RTX’s dividend payout ratio is presently 79.77%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. Citigroup boosted their price target on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. cut their price target 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. Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. Finally, 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 research report on Wednesday, April 23rd. Five 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, the company has an average rating of “Moderate Buy” and a consensus price target of $162.61.

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.