Traveka Wealth LLC Grows Position in RTX Corporation (NYSE:RTX)

Traveka Wealth LLC increased its holdings in RTX Corporation (NYSE:RTX) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,886 shares of the company’s stock after acquiring an additional 97 shares during the quarter. Traveka Wealth LLC’s holdings in RTX were worth $382,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pure Portfolios Holdings LLC lifted its stake in RTX by 2.1% in the first quarter. Pure Portfolios Holdings LLC now owns 4,703 shares of the company’s stock worth $623,000 after acquiring an additional 98 shares during the period. Rice Partnership LLC lifted its stake in RTX by 14.4% in the first quarter. Rice Partnership LLC now owns 87,495 shares of the company’s stock worth $11,590,000 after acquiring an additional 11,034 shares during the period. Cloud Capital Management LLC purchased a new stake in RTX in the first quarter worth about $54,000. Argentarii LLC purchased a new stake in shares of RTX during the first quarter valued at about $210,000. Finally, Jackson Wealth Management LLC purchased a new stake in shares of RTX during the first quarter valued at about $522,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RTX. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target for the company in a research report on Wednesday, April 23rd. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. UBS Group increased their price target on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, Citigroup decreased their price target on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. 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. Based on data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $161.12.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the 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 transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 4,146 shares of the 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 completion of the transaction, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Price Performance

Shares of NYSE:RTX opened at $145.80 on Friday. RTX Corporation has a twelve month low of $99.42 and a twelve month high of $149.26. The company’s 50 day moving average is $137.24 and its 200 day moving average is $129.37. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market cap of $194.78 billion, a PE ratio of 42.76, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX’s dividend payout ratio (DPR) is presently 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.