Beacon Capital Management LLC Trims Stock Position in RTX Corporation (NYSE:RTX)

Beacon Capital Management LLC decreased its stake in RTX Corporation (NYSE:RTX) by 7.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,406 shares of the company’s stock after selling 204 shares during the quarter. Beacon Capital Management LLC’s holdings in RTX were worth $319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. raised its holdings in shares of RTX by 0.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after buying an additional 79 shares during the period. Fusion Capital LLC boosted its holdings in RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after acquiring an additional 80 shares during the period. McDonough Capital Management Inc raised its stake in shares of RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock valued at $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. lifted its position in shares of RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC boosted its stake in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after purchasing an additional 81 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other news, 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 transaction of $2,328,805.64. Following the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following 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 disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

RTX Price Performance

Shares of RTX opened at $148.50 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company has a market cap of $198.39 billion, a P/E ratio of 43.55, a PEG ratio of 2.65 and a beta of 0.63. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.56. The stock has a fifty day moving average price of $132.34 and a 200 day moving average price of $126.91.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 5.63% and a return on equity of 12.71%. On average, research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently disclosed 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 a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio is 79.77%.

Analysts Set New Price Targets

A number of research firms have weighed in on RTX. Wells Fargo & Company upped their price objective on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Cowen restated a “buy” rating on shares of RTX in a report on Friday, May 23rd. Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Finally, UBS Group lifted their price target on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Buy” and a consensus price target of $159.82.

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.