Farther Finance Advisors LLC Sells 8,457 Shares of RTX Co. (NYSE:RTX)

Farther Finance Advisors LLC reduced its holdings in RTX Co. (NYSE:RTX) by 16.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,067 shares of the company’s stock after selling 8,457 shares during the quarter. Farther Finance Advisors LLC’s holdings in RTX were worth $5,854,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RTX. 10Elms LLP bought a new stake in RTX in the fourth quarter worth approximately $29,000. Fairway Wealth LLC bought a new stake in RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC bought a new stake in RTX in the fourth quarter worth approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX in the fourth quarter worth approximately $39,000. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This 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 Trading Up 1.3%

Shares of RTX stock opened at $140.94 on Tuesday. The stock has a fifty day simple moving average of $129.78 and a 200 day simple moving average of $125.98. RTX Co. has a 12-month low of $99.07 and a 12-month high of $141.33. The company has a market capitalization of $188.29 billion, a P/E ratio of 39.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. On average, sell-side analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.93%. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RTX. UBS Group boosted their price objective on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Citigroup decreased their price objective on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $159.82.

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.