Avity Investment Management Inc. Sells 26,572 Shares of RTX Co. (NYSE:RTX)

Avity Investment Management Inc. reduced its holdings in RTX Co. (NYSE:RTX - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 302,855 shares of the company's stock after selling 26,572 shares during the quarter. RTX accounts for 3.2% of Avity Investment Management Inc.'s portfolio, making the stock its 10th largest position. Avity Investment Management Inc.'s holdings in RTX were worth $40,116,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RTX. 10Elms LLP acquired a new stake in RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new position in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management increased its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC acquired a new position in shares of RTX during the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX during the 4th quarter valued at $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

RTX opened at $138.99 on Friday. The stock has a market cap of $185.68 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.11 and a beta of 0.60. RTX Co. has a 1 year low of $99.07 and a 1 year high of $139.77. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $129.50 and a 200 day moving average price of $125.61.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.68 per share. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. Citigroup lowered their price target on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Finally, 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 research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $159.82.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the business'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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

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.

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