Good Life Advisors LLC Decreases Stock Position in RTX Co. (NYSE:RTX)

Good Life Advisors LLC reduced its position in RTX Co. (NYSE:RTX) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,058 shares of the company’s stock after selling 96 shares during the period. Good Life Advisors LLC’s holdings in RTX were worth $802,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in RTX. 10Elms LLP bought a new stake in RTX in the 4th quarter worth approximately $29,000. Fairway Wealth LLC bought a new stake in RTX in the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC bought a new stake in RTX in the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX in the 4th quarter worth approximately $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Trading Up 0.5%

Shares of RTX stock opened at $146.43 on Tuesday. The company has a market capitalization of $195.62 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a fifty day moving average of $131.94 and a 200 day moving average of $126.76. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $149.04.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. 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 business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.86%. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is presently 79.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RTX shares. Wells Fargo & Company lifted their target price on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. UBS Group boosted their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, Citigroup cut their price objective 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. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $159.82.

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 shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction dated 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 now owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

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.