Cantor Fitzgerald Investment Advisors L.P. Sells 32,307 Shares of RTX Corporation (NYSE:RTX)

Cantor Fitzgerald Investment Advisors L.P. reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 19.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,936 shares of the company's stock after selling 32,307 shares during the quarter. RTX accounts for approximately 1.3% of Cantor Fitzgerald Investment Advisors L.P.'s investment portfolio, making the stock its 19th biggest holding. Cantor Fitzgerald Investment Advisors L.P.'s holdings in RTX were worth $18,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RTX. National Pension Service grew its stake in RTX by 15.1% in the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after buying an additional 375,781 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after acquiring an additional 2,686 shares during the period. Deutsche Bank AG grew its position in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of RTX during the fourth quarter worth approximately $3,356,000. Finally, Thoroughbred Financial Services LLC lifted its holdings in RTX by 43.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after purchasing an additional 7,987 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Finally, Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $159.82.

RTX Stock Down 1.8%

RTX stock opened at $145.81 on Friday. The firm has a 50-day moving average price of $133.06 and a 200-day moving average price of $127.23. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $194.80 billion, a P/E ratio of 42.76, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last released 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 net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insider Activity

In other RTX news, 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 transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction 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 sale, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

About RTX

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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