Benjamin Edwards Inc. Lowers Holdings in RTX Corporation (NYSE:RTX)

Key Points

• Benjamin Edwards Inc. reduced its holdings in RTX Corporation by 26.7%, owning 63,061 shares after selling 23,006 shares during the first quarter, valued at approximately $8.35 million.
• Insider selling was notable, with EVP Dantaya M. Williams selling 16,922 shares at an average price of $137.62, representing a 50.57% decrease in their holdings.
• RTX announced a quarterly dividend of $0.68 per share, with a payout ratio of 59.78% and a dividend yield of 1.8%, set to be paid on September 4th.

Benjamin Edwards Inc. cut its position in RTX Corporation (NYSE:RTX - Free Report) by 26.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,061 shares of the company's stock after selling 23,006 shares during the quarter. Benjamin Edwards Inc.'s holdings in RTX were worth $8,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after buying an additional 159 shares during the last quarter. Heritage Trust Co bought a new position in shares of RTX in the 4th quarter worth $1,437,000. Petros Family Wealth LLC bought a new position in shares of RTX in the 4th quarter worth $828,000. Finally, Townsquare Capital LLC increased its holdings in shares of RTX by 3.6% in the 4th quarter. Townsquare Capital LLC now owns 245,707 shares of the company's stock worth $28,433,000 after buying an additional 8,502 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm'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 completion of the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm'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 completion of the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,935 shares of company stock valued at $5,938,488. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

Shares of RTX stock opened at $154.98 on Friday. The firm has a market cap of $207.45 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.85 and a beta of 0.69. RTX Corporation has a 12-month low of $112.27 and a 12-month 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 fifty day simple moving average is $147.87 and its two-hundred day simple moving average is $135.46.

RTX (NYSE:RTX - Get Free Report) last announced 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 company's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. As a group, equities analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio is 59.78%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a report on Friday, April 25th. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the company a "market perform" rating in a report on Friday, July 11th. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has an average rating of "Moderate Buy" and a consensus price target of $158.67.

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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