Axxcess Wealth Management LLC Decreases Stock Holdings in RTX Corporation (NYSE:RTX)

Axxcess Wealth Management LLC lessened its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,271 shares of the company's stock after selling 3,542 shares during the period. Axxcess Wealth Management LLC's holdings in RTX were worth $7,056,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX in the 1st quarter worth $26,000. 10Elms LLP acquired a new stake in RTX during the fourth quarter worth about $29,000. Fairway Wealth LLC purchased a new position in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management boosted its holdings in RTX by 2,944.4% in 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 last quarter. Finally, Greenline Partners LLC purchased a new stake in shares of RTX in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Cowen reaffirmed a "buy" rating on shares of RTX in a research note on Friday, May 23rd. UBS Group increased their target price on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group upped their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, Susquehanna dropped their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $161.12.

RTX Stock Performance

Shares of RTX traded up $0.40 during midday trading on Friday, reaching $146.80. 3,468,750 shares of the stock were exchanged, compared to its average volume of 5,295,552. The company has a market capitalization of $196.12 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 2.64 and a beta of 0.64. RTX Corporation has a twelve month low of $100.22 and a twelve month high of $149.26. The business's 50-day moving average price is $138.83 and its 200 day moving average price is $130.10. 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:RTX - Get Free Report) last issued 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 the consensus estimate of $19.80 billion. On average, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.85%. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 transaction, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated 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 directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

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.