RTX Corporation (NYSE:RTX) Stake Lessened by 44 Wealth Management LLC

44 Wealth Management LLC lowered its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 27.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,543 shares of the company's stock after selling 4,041 shares during the period. 44 Wealth Management LLC's holdings in RTX were worth $1,397,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RTX. Vanguard Group Inc. increased its stake in RTX by 1.1% during 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 during the period. Geode Capital Management LLC grew its stake in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Franklin Resources Inc. increased its position 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 during the last quarter. Norges Bank acquired a new position in shares of RTX in the fourth quarter worth about $1,745,644,000. Finally, Northern Trust Corp boosted its holdings in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after purchasing an additional 997,806 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the business's 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 sale, the vice president directly owned 9,546 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the 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 completion of the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

RTX Price Performance

NYSE:RTX traded up $1.28 during mid-day trading on Friday, reaching $145.80. 1,888,713 shares of the stock were exchanged, compared to its average volume of 5,348,312. RTX Corporation has a 1-year low of $99.42 and a 1-year high of $149.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $194.78 billion, a PE ratio of 24.83, a PEG ratio of 2.63 and a beta of 0.64. The business has a fifty day moving average price of $136.83 and a 200 day moving average price of $129.07.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. Research analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. RTX's dividend payout ratio is presently 79.77%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Susquehanna dropped their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Benchmark raised 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. Finally, Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

About RTX

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.