Cary Street Partners Financial LLC Has $21.43 Million Stock Position in RTX Corporation (NYSE:RTX)

Key Points

• Cary Street Partners Financial LLC has reduced its stake in RTX Corporation by 4.8%, now holding 161,761 shares worth approximately $21.43 million.
• RTX Corporation reported quarterly earnings of $1.56 EPS, surpassing analysts' estimates of $1.45, with revenues totaling $21.58 billion.
• The company declared a quarterly dividend of $0.68 to be paid on September 4th, resulting in an annualized yield of 1.7%.

Cary Street Partners Financial LLC lowered its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,761 shares of the company's stock after selling 8,211 shares during the period. Cary Street Partners Financial LLC's holdings in RTX were worth $21,427,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after buying an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of RTX by 43.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Invesco Ltd. lifted its position in shares of RTX by 17.6% during the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of RTX in the 4th quarter valued at $138,585,000. Finally, AQR Capital Management LLC raised its stake in shares of RTX by 181.4% in the fourth quarter. AQR Capital Management LLC now owns 1,569,733 shares of the company's stock valued at $181,571,000 after acquiring an additional 1,011,816 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.25 during midday trading on Thursday, hitting $155.50. The company's stock had a trading volume of 5,102,942 shares, compared to its average volume of 5,047,802. The stock has a market capitalization of $208.14 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 2.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The stock's 50 day simple moving average is $147.50 and its 200 day simple moving average is $135.19.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's dividend payout ratio (DPR) is currently 59.78%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RTX. Jefferies Financial Group restated a "hold" rating on shares of RTX in a research report on Monday, July 21st. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a report on Friday, April 25th. Bank of America raised their price target on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.67.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,935 shares of company stock worth $5,938,488 over the last three months. 0.15% of the stock is currently owned by insiders.

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.