Integrated Advisors Network LLC Trims Stock Position in RTX Co. (NYSE:RTX)

Integrated Advisors Network LLC lessened its position in shares of RTX Co. (NYSE:RTX) by 2.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 19,220 shares of the company’s stock after selling 478 shares during the period. Integrated Advisors Network LLC’s holdings in RTX were worth $2,546,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trueblood Wealth Management LLC acquired a new stake in shares of RTX in the first quarter valued at about $219,000. Sanibel Captiva Trust Company Inc. raised its stake in shares of RTX by 1.5% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 126,524 shares of the company’s stock valued at $16,759,000 after acquiring an additional 1,818 shares during the period. MADDEN SECURITIES Corp purchased a new stake in shares of RTX in the 1st quarter valued at approximately $225,000. Accurate Wealth Management LLC increased its stake in RTX by 49.4% during the 1st quarter. Accurate Wealth Management LLC now owns 10,119 shares of the company’s stock worth $1,298,000 after buying an additional 3,345 shares during the period. Finally, Fiduciary Financial Group LLC purchased a new stake in RTX during the 1st quarter worth approximately $262,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $141.77 on Thursday. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $142.65. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $189.39 billion, a P/E ratio of 39.93, a PEG ratio of 2.11 and a beta of 0.63. The company has a 50-day simple moving average of $130.44 and a 200 day simple moving average of $126.17.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.92%. RTX’s dividend payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RTX. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Citigroup lowered their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company upped their target price on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Buy” and an average target price of $159.82.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred 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 now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $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. Insiders own 0.15% of the company’s stock.

RTX Company 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.