Barnett & Company Inc. cut its stake in RTX Corporation (NYSE:RTX - Free Report) by 29.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,595 shares of the company's stock after selling 6,800 shares during the period. RTX comprises approximately 1.8% of Barnett & Company Inc.'s portfolio, making the stock its 18th largest position. Barnett & Company Inc.'s holdings in RTX were worth $2,198,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in RTX in the first quarter valued at $26,000. 10Elms LLP purchased a new stake in RTX in the fourth quarter valued at $29,000. Greenline Partners LLC purchased a new stake in RTX in the fourth quarter valued at $34,000. Mpwm Advisory Solutions LLC purchased a new stake in RTX in the fourth quarter valued at $43,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in RTX in the first quarter valued at $44,000. 86.50% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
RTX has been the subject of a number of research reports. Citigroup boosted their price target on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research note on Friday, April 25th. Susquehanna lifted their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Finally, Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $158.67.
Get Our Latest Report on RTX
Insider Activity at RTX
In related news, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the sale, the insider owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,935 shares of company stock worth $5,938,488 in the last ninety days. Corporate insiders own 0.15% of the company's stock.
RTX Trading Down 0.5%
Shares of RTX stock opened at $154.98 on Friday. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company's 50-day simple moving average is $147.87 and its 200-day simple moving average is $135.46. The firm has a market cap of $207.45 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 2.85 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, topping analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 earnings per share. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.
RTX Dividend Announcement
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 dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's dividend payout ratio is currently 59.78%.
RTX Profile
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Free Report)
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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