Atticus Wealth Management LLC Raises Holdings in RTX Co. (NYSE:RTX)

Atticus Wealth Management LLC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 34.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,557 shares of the company’s stock after acquiring an additional 400 shares during the period. Atticus Wealth Management LLC’s holdings in RTX were worth $152,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Brown Miller Wealth Management LLC grew its stake in shares of RTX by 2.4% during the first quarter. Brown Miller Wealth Management LLC now owns 24,538 shares of the company’s stock worth $2,393,000 after acquiring an additional 568 shares during the last quarter. Symphony Financial Ltd. Co. grew its stake in shares of RTX by 21.4% during the first quarter. Symphony Financial Ltd. Co. now owns 12,482 shares of the company’s stock worth $1,217,000 after acquiring an additional 2,204 shares during the last quarter. Vicus Capital grew its stake in shares of RTX by 153.7% during the first quarter. Vicus Capital now owns 6,307 shares of the company’s stock worth $615,000 after acquiring an additional 3,821 shares during the last quarter. Baker Ellis Asset Management LLC grew its stake in shares of RTX by 3.5% during the first quarter. Baker Ellis Asset Management LLC now owns 57,028 shares of the company’s stock worth $5,562,000 after acquiring an additional 1,908 shares during the last quarter. Finally, First Bank & Trust purchased a new stake in RTX in the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock traded down $0.23 during trading hours on Friday, hitting $100.39. 13,853,219 shares of the company’s stock were exchanged, compared to its average volume of 6,408,701. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $133.47 billion, a P/E ratio of 39.37, a P/E/G ratio of 1.76 and a beta of 0.83. The firm has a 50 day moving average of $104.42 and a two-hundred day moving average of $95.57. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share 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 business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the prior year, the company posted $1.22 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RTX shares. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Wells Fargo & Company upped their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Finally, Barclays upped their target price on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.33.

Insider Activity at RTX

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction 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 transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock valued at $12,256,952. 0.13% of the stock is owned by insiders.

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.