DLK Investment Management LLC Sells 6,574 Shares of RTX Corporation (NYSE:RTX)

DLK Investment Management LLC reduced its stake in shares of RTX Corporation (NYSE:RTX) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,221 shares of the company’s stock after selling 6,574 shares during the quarter. RTX makes up approximately 2.8% of DLK Investment Management LLC’s portfolio, making the stock its 9th largest position. DLK Investment Management LLC’s holdings in RTX were worth $6,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Vanguard Group Inc. lifted its position in RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after buying an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of RTX by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock worth $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Finally, Norges Bank acquired a new stake in RTX during the fourth quarter valued at $1,745,644,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

RTX Stock Performance

Shares of NYSE RTX opened at $141.29 on Thursday. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The company has a market cap of $188.76 billion, a P/E ratio of 41.43, a P/E/G ratio of 2.56 and a beta of 0.63. The business’s 50 day moving average is $134.28 and its two-hundred day moving average is $127.93. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping 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. On average, equities analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s dividend payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. JPMorgan Chase & Co. lowered their price target on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Susquehanna cut their price objective on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. UBS Group lifted their target price on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada dropped their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. 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 company’s stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $161.12.

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.