Lipe & Dalton Sells 545 Shares of RTX Corporation (NYSE:RTX)

Lipe & Dalton reduced its holdings in RTX Corporation (NYSE:RTXFree Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,789 shares of the company’s stock after selling 545 shares during the quarter. RTX makes up approximately 2.1% of Lipe & Dalton’s holdings, making the stock its 17th largest holding. Lipe & Dalton’s holdings in RTX were worth $3,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bay Capital Advisors LLC acquired a new position in shares of RTX in the 1st quarter worth approximately $224,000. Dynamic Advisor Solutions LLC boosted its holdings in shares of RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock worth $4,591,000 after acquiring an additional 2,686 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after acquiring an additional 936,953 shares in the last quarter. LBP AM SA boosted its holdings in shares of RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company’s stock worth $36,980,000 after acquiring an additional 41,990 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock worth $51,741,000 after acquiring an additional 5,356 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 0.4%

Shares of RTX traded up $0.63 during midday trading on Friday, hitting $152.13. The stock had a trading volume of 979,654 shares, compared to its average volume of 5,258,262. The company has a 50 day simple moving average of $140.89 and a two-hundred day simple moving average of $131.23. RTX Corporation has a twelve month low of $102.62 and a twelve month high of $152.84. The firm has a market cap of $203.23 billion, a price-to-earnings ratio of 44.64, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. 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:RTXGet Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.79%. RTX’s dividend payout ratio is presently 79.77%.

Insider Buying and Selling

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 completion of the sale, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’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 value of $2,328,805.64. Following the sale, the executive vice president owned 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 disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup upped their price objective on RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada reduced their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. The Goldman Sachs Group upped their price objective on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Finally, Cowen reaffirmed a “buy” rating on shares of RTX in a report on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus target price of $164.28.

Read Our Latest Research Report on RTX

RTX Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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