Brown Advisory Inc. Decreases Position in RTX Corporation (NYSE:RTX)

Brown Advisory Inc. reduced its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,142 shares of the company's stock after selling 2,144 shares during the quarter. Brown Advisory Inc.'s holdings in RTX were worth $37,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MorganRosel Wealth Management LLC bought a new stake in RTX in the first quarter worth $26,000. 10Elms LLP purchased a new position in RTX in the fourth quarter valued at about $29,000. Picton Mahoney Asset Management grew its stake in RTX by 2,944.4% in the fourth 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. Greenline Partners LLC purchased a new position in RTX in the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of RTX during the fourth quarter worth about $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 28th. 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 report on Monday, June 23rd. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a report on Friday, April 25th. Finally, Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Four 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, RTX has a consensus rating of "Moderate Buy" and an average price target of $161.12.

RTX Trading Up 0.3%

Shares of RTX traded up $0.40 during midday trading on Friday, reaching $146.80. The company had a trading volume of 3,468,750 shares, compared to its average volume of 5,286,353. RTX Corporation has a 1-year low of $101.02 and a 1-year high of $149.26. The stock has a market cap of $196.12 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 2.72 and a beta of 0.64. The firm has a 50 day simple moving average of $139.16 and a 200-day simple moving average of $130.30. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

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 analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 payout ratio is presently 79.77%.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by 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.