Atria Wealth Solutions Inc. Sells 14,669 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in RTX Corporation by 15.8%, selling 14,669 shares and holding 78,191 shares valued at approximately $10.36 million.
• Several hedge funds, including MorganRosel Wealth Management LLC and Capital A Wealth Management LLC, recently initiated new stakes in RTX, reflecting changing institutional investor interests in the company.
• RTX Corporation reported better-than-expected quarterly earnings with an EPS of $1.56, exceeding analyst estimates, alongside a declared quarterly dividend of $0.68 per share.

Atria Wealth Solutions Inc. lessened its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,191 shares of the company's stock after selling 14,669 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in RTX were worth $10,357,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new stake in shares of RTX in the 1st quarter worth approximately $26,000. 10Elms LLP bought a new stake in shares of RTX in the 4th quarter worth approximately $29,000. Greenline Partners LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $34,000. Mpwm Advisory Solutions LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $43,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $45,000. Institutional investors own 86.50% of the company's stock.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,088 shares of company stock worth $3,910,975. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RTX shares. Barclays raised their price objective on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their target price on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group boosted their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Six research 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. According to MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

RTX Trading Down 0.7%

Shares of RTX opened at $156.23 on Wednesday. The stock has a fifty day moving average price of $146.63 and a two-hundred day moving average price of $134.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The company has a market cap of $209.12 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.90 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business 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 1.7%. RTX's dividend payout ratio is presently 59.78%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.