RTX Corporation (NYSE:RTX) Shares Purchased by Hemenway Trust Co LLC

Hemenway Trust Co LLC lifted its stake in RTX Corporation (NYSE:RTX) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 260,628 shares of the company’s stock after purchasing an additional 10,518 shares during the period. RTX makes up 2.8% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 16th largest holding. Hemenway Trust Co LLC’s holdings in RTX were worth $34,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 10Elms LLP acquired a new stake in shares of RTX in the fourth quarter valued at about $29,000. Fairway Wealth LLC acquired a new position in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new position in RTX during the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC acquired a new position in RTX during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RTX. Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Citigroup cut their target price 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. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $159.82.

RTX Stock Performance

Shares of NYSE RTX opened at $148.50 on Wednesday. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.56. The company has a 50-day simple moving average of $132.34 and a 200-day simple moving average of $126.91. The company has a market cap of $198.39 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. 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 (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) 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 firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. On average, equities analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s payout ratio is presently 79.77%.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% 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.