RWA Wealth Partners LLC Decreases Stock Position in RTX Corporation $RTX

RWA Wealth Partners LLC cut its stake in RTX Corporation (NYSE:RTX) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,130 shares of the company’s stock after selling 5,639 shares during the period. RWA Wealth Partners LLC’s holdings in RTX were worth $29,423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the 1st quarter valued at about $26,000. 10Elms LLP purchased a new stake in RTX during the 4th quarter valued at approximately $29,000. Greenline Partners LLC acquired a new stake in RTX in the fourth quarter valued at about $34,000. Summit Securities Group LLC purchased a new position in shares of RTX during the 1st quarter worth approximately $40,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of RTX during the 1st quarter worth approximately $44,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on RTX. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, May 14th. The Goldman Sachs Group increased their target price on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Bank of America lifted their price target on shares of RTX from $150.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley lifted their target price on RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.67.

RTX Stock Down 0.7%

NYSE:RTX opened at $154.04 on Monday. The firm has a market capitalization of $206.19 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.69. The stock has a 50 day moving average of $149.54 and a 200-day moving average of $136.53. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79. 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 earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. Analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX’s dividend payout ratio (DPR) is 59.78%.

Insiders Place Their Bets

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the executive vice president directly owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,589 shares of company stock worth $7,126,389. 0.15% of the stock is owned by company insiders.

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.