Adams Diversified Equity Fund Inc. Lowers Stock Holdings in RTX Corporation (NYSE:RTX)

Adams Diversified Equity Fund Inc. trimmed its position in RTX Corporation (NYSE:RTX - Free Report) by 41.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,200 shares of the company's stock after selling 95,000 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in RTX were worth $18,041,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. lifted its holdings in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after buying an additional 79 shares in the last quarter. Fusion Capital LLC grew its position in RTX by 0.5% during the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after acquiring an additional 80 shares during the last quarter. McDonough Capital Management Inc grew its position in RTX by 1.6% during the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after acquiring an additional 80 shares during the last quarter. Pointe Capital Management LLC grew its position in RTX by 0.5% during the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after acquiring an additional 81 shares during the last quarter. Finally, Guardian Wealth Advisors LLC NC grew its position in RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after acquiring an additional 82 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 now directly 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 SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 16,538 shares of the company's stock, valued at $2,275,959.56. This represents 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 insiders.

RTX Stock Down 2.7%

RTX stock opened at $141.85 on Wednesday. The stock has a market capitalization of $189.51 billion, a P/E ratio of 41.60, a P/E/G ratio of 2.64 and a beta of 0.63. 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 Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The business has a fifty day moving average price of $134.03 and a 200-day moving average price of $127.84.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates 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 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.92%. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company increased their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. The Goldman Sachs Group raised their target price on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $161.12.

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.

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