Braun Stacey Associates Inc. Buys Shares of 176,278 RTX Corporation (NYSE:RTX)

Braun Stacey Associates Inc. purchased a new position in shares of RTX Corporation (NYSE:RTX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 176,278 shares of the company’s stock, valued at approximately $23,350,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bay Capital Advisors LLC bought a new stake in shares of RTX during the first quarter worth about $224,000. Dynamic Advisor Solutions LLC grew its holdings in shares of RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock worth $4,591,000 after purchasing an additional 2,686 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after purchasing an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of RTX during the fourth quarter worth about $3,356,000. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of RTX by 43.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock worth $3,046,000 after purchasing an additional 7,987 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RTX. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. reduced their target price on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. Wall Street Zen downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, The Goldman Sachs Group boosted their price target on shares of RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, June 23rd. Four investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $161.12.

RTX Stock Performance

NYSE:RTX opened at $145.80 on Friday. The company has a fifty day moving average of $137.24 and a 200-day moving average of $129.26. The firm has a market capitalization of $194.78 billion, a P/E ratio of 42.76, a P/E/G ratio of 2.63 and a beta of 0.64. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a twelve month low of $99.42 and a twelve month high of $149.26.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. RTX’s dividend payout ratio is currently 79.77%.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were 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 owned 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

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.