Wealth Effects LLC Lowers Stake in RTX Corporation (NYSE:RTX)

Wealth Effects LLC reduced its position in RTX Corporation (NYSE:RTX) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,248 shares of the company’s stock after selling 275 shares during the quarter. Wealth Effects LLC’s holdings in RTX were worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. 10Elms LLP bought a new stake in RTX during the fourth quarter valued at about $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management grew 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 in the last quarter. Greenline Partners LLC purchased a new stake in shares of RTX during the fourth quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of RTX during the fourth quarter worth about $39,000. 86.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm’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 value 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. Corporate insiders own 0.15% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $141.29 on Thursday. The firm has a market capitalization of $188.76 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 2.56 and a beta of 0.63. RTX Corporation has a 1 year low of $99.07 and a 1 year high of $149.26. The business has a 50 day simple moving average of $134.28 and a 200-day simple moving average of $127.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Equities analysts forecast 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 paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.93%. 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 (DPR) is presently 79.77%.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research report on Friday, April 25th. UBS Group increased their target price on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Wells Fargo & Company increased their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Royal Bank Of Canada cut their target price on RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Four 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.