RTX Corporation (NYSE:RTX) Stock Holdings Decreased by Balboa Wealth Partners

Balboa Wealth Partners reduced its position in RTX Corporation (NYSE:RTX) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,684 shares of the company’s stock after selling 172 shares during the period. Balboa Wealth Partners’ holdings in RTX were worth $1,415,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Berry Wealth Group LP acquired a new stake in shares of RTX during the first quarter worth approximately $236,000. Sava Infond d.o.o. acquired a new stake in shares of RTX during the first quarter worth approximately $1,563,000. FORM Wealth Advisors LLC acquired a new stake in shares of RTX during the first quarter worth approximately $276,000. Legacy Advisors LLC boosted its holdings in shares of RTX by 14.0% during the first quarter. Legacy Advisors LLC now owns 8,780 shares of the company’s stock worth $1,163,000 after purchasing an additional 1,076 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of RTX by 7.5% during the first quarter. Asset Management One Co. Ltd. now owns 581,265 shares of the company’s stock worth $76,994,000 after purchasing an additional 40,730 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RTX. Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Saturday. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Wells Fargo & Company boosted their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average price target of $161.12.

RTX Trading Down 0.5%

Shares of RTX stock opened at $145.90 on Tuesday. The firm has a market capitalization of $194.92 billion, a PE ratio of 42.79, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. 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’s fifty day moving average price is $133.77 and its two-hundred day moving average price is $127.74. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.26.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.86%. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is 79.77%.

Insider Buying and Selling at RTX

In other news, 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 value of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX 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.