Institute for Wealth Management LLC. Sells 168 Shares of RTX Corporation (NYSE:RTX)

Institute for Wealth Management LLC. reduced its holdings in shares of RTX Corporation (NYSE:RTX) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,068 shares of the company’s stock after selling 168 shares during the quarter. Institute for Wealth Management LLC.’s holdings in RTX were worth $1,996,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. 10Elms LLP bought a new position in RTX during the fourth quarter valued at about $29,000. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management grew its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC purchased a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Susquehanna decreased their target price on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Wall Street Zen upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. 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 research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, RTX has a consensus rating of “Buy” and an average target price of $159.82.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred 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 directly owns 9,546 shares of the company’s stock, 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 at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s 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 transaction, 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 position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

RTX Stock Down 1.8%

RTX stock opened at $145.81 on Thursday. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The stock has a market cap of $194.80 billion, a price-to-earnings ratio of 42.76, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $132.69 and its 200 day moving average is $127.04.

RTX (NYSE:RTX) last released its earnings results 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 return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s payout ratio is presently 79.77%.

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.