Tealwood Asset Management Inc. Decreases Stake in RTX Co. (NYSE:RTX)

Tealwood Asset Management Inc. reduced its position in RTX Co. (NYSE:RTX) by 0.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,132 shares of the company’s stock after selling 115 shares during the quarter. Tealwood Asset Management Inc.’s holdings in RTX were worth $2,137,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Radnor Capital Management LLC grew its holdings in shares of RTX by 3.8% during the first quarter. Radnor Capital Management LLC now owns 20,585 shares of the company’s stock worth $2,727,000 after purchasing an additional 758 shares in the last quarter. Impact Capital Partners LLC grew its holdings in shares of RTX by 12.1% during the first quarter. Impact Capital Partners LLC now owns 3,225 shares of the company’s stock worth $427,000 after purchasing an additional 348 shares in the last quarter. Tower Wealth Partners Inc. grew its holdings in shares of RTX by 31.9% during the first quarter. Tower Wealth Partners Inc. now owns 2,338 shares of the company’s stock worth $310,000 after purchasing an additional 566 shares in the last quarter. First National Corp MA ADV grew its holdings in shares of RTX by 8.6% during the first quarter. First National Corp MA ADV now owns 2,516 shares of the company’s stock worth $333,000 after purchasing an additional 200 shares in the last quarter. Finally, Eagle Rock Investment Company LLC grew its holdings in shares of RTX by 31.4% during the first quarter. Eagle Rock Investment Company LLC now owns 2,385 shares of the company’s stock worth $316,000 after purchasing an additional 570 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction 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 completion of the transaction, the vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on 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 transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

NYSE:RTX opened at $139.21 on Friday. The firm has a market cap of $185.98 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $140.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The business has a 50 day moving average price of $129.63 and a 200-day moving average price of $125.75.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.68 dividend. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio is presently 79.77%.

Analysts Set New Price Targets

Several research analysts have recently commented on RTX shares. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a report on Wednesday, April 23rd. Susquehanna cut their price objective on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. UBS Group upped their target price on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $159.82.

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.