RTX Corporation (NYSE:RTX) Position Lowered by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC decreased its stake in shares of RTX Corporation (NYSE:RTX) by 2.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 8,339 shares of the company’s stock after selling 252 shares during the quarter. Sawgrass Asset Management LLC’s holdings in RTX were worth $1,105,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. 10Elms LLP bought a new position in shares of RTX during the fourth quarter worth about $29,000. Fairway Wealth LLC bought a new position in shares of RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% during 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 during the last quarter. Greenline Partners LLC bought a new position in shares of RTX during the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX during the fourth quarter worth about $39,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RTX shares. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Morgan Stanley raised shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a report on Wednesday, April 23rd. Finally, Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.82.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following 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. Company insiders own 0.15% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX opened at $146.75 on Monday. The firm’s 50 day moving average is $133.43 and its two-hundred day moving average is $127.54. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.66. The firm has a market capitalization of $196.05 billion, a P/E ratio of 43.04, a PEG ratio of 2.65 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.

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 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio (DPR) is currently 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.