RTX Co. (NYSE:RTX) Stake Raised by Iams Wealth Management LLC

Iams Wealth Management LLC boosted its holdings in RTX Co. (NYSE:RTX) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,356 shares of the company’s stock after acquiring an additional 640 shares during the quarter. Iams Wealth Management LLC’s holdings in RTX were worth $572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Capital Research Global Investors increased its holdings in shares of RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors increased its holdings in shares of RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares during the period. Sanders Capital LLC grew its stake in shares of RTX by 6.8% in the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after buying an additional 677,520 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of RTX in the 4th quarter valued at approximately $690,154,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Citigroup increased their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $98.33.

Insider Buying and Selling

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock valued at $12,256,952 over the last 90 days. Company insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE RTX traded up $0.71 on Tuesday, reaching $100.26. The stock had a trading volume of 1,367,640 shares, compared to its average volume of 7,519,868. The company has a market cap of $133.30 billion, a P/E ratio of 39.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a fifty day moving average of $104.38 and a two-hundred day moving average of $95.78.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the prior year, the firm posted $1.22 EPS. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.51%. RTX’s dividend payout ratio is currently 98.82%.

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.