Cambridge Investment Research Advisors Inc. reduced its stake in RTX Corporation (NYSE:RTX - Free Report) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 271,553 shares of the company's stock after selling 14,622 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in RTX were worth $35,970,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. 10Elms LLP purchased a new stake in shares of RTX in the fourth quarter worth $29,000. Fairway Wealth LLC bought a new position in shares of RTX during the fourth quarter valued at $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% during 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 in the last quarter. Greenline Partners LLC bought a new position in shares of RTX during the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX during the fourth quarter valued at $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
RTX has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Benchmark raised 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. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. JPMorgan Chase & Co. lowered their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, UBS Group increased their target price on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.12.
Read Our Latest Stock Report on RTX
RTX Price Performance
Shares of NYSE:RTX traded up $1.36 during trading on Thursday, hitting $142.74. 5,407,422 shares of the company's stock were exchanged, compared to its average volume of 5,390,772. 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 Corporation has a 52-week low of $99.07 and a 52-week high of $149.26. The business's 50-day simple moving average is $134.55 and its 200 day simple moving average is $128.11. The company has a market cap of $190.69 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.56 and a beta of 0.63.
RTX (NYSE:RTX - Get Free Report) last released its earnings results 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 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 analysts' expectations of $19.80 billion. As a group, equities analysts predict that RTX Corporation will post 6.11 EPS for the current year.
RTX Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.68 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.91%. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.
Insider Buying and Selling
In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred 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 now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
About RTX
(
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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