Envestnet Portfolio Solutions Inc. Acquires 13,780 Shares of RTX Co. (NYSE:RTX)

Envestnet Portfolio Solutions Inc. boosted its holdings in RTX Co. (NYSE:RTX) by 19.8% in the first quarter, HoldingsChannel reports. The firm owned 83,424 shares of the company’s stock after purchasing an additional 13,780 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in RTX were worth $8,136,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Empirical Finance LLC increased its holdings in RTX by 3.1% in the first quarter. Empirical Finance LLC now owns 52,925 shares of the company’s stock worth $5,162,000 after purchasing an additional 1,615 shares in the last quarter. CFO4Life Group LLC bought a new stake in RTX in the first quarter worth approximately $205,000. Ballast Inc. increased its holdings in RTX by 4.8% in the first quarter. Ballast Inc. now owns 12,294 shares of the company’s stock worth $1,199,000 after purchasing an additional 566 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of RTX by 24.0% during the first quarter. Manchester Capital Management LLC now owns 7,707 shares of the company’s stock valued at $752,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Advisory Alpha LLC increased its holdings in shares of RTX by 2.0% during the first quarter. Advisory Alpha LLC now owns 8,992 shares of the company’s stock valued at $877,000 after acquiring an additional 179 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Transactions at RTX

In other 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 transaction of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated 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 owns 149,050 shares in the company, valued at approximately $15,757,566. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is owned by company insiders.

RTX Stock Performance

RTX traded down $0.44 during midday trading on Friday, reaching $101.28. The company had a trading volume of 6,002,946 shares, compared to its average volume of 7,497,802. The business has a 50-day moving average price of $104.24 and a two-hundred day moving average price of $96.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The stock has a market cap of $134.65 billion, a PE ratio of 39.97, a P/E/G ratio of 1.79 and a beta of 0.82.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. RTX’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders 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 dividend yield of 2.49%. RTX’s payout ratio is 98.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RTX shares. Citigroup boosted their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Susquehanna boosted their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Bank of America boosted their price objective on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their price objective on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Finally, StockNews.com cut RTX from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.33.

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.