CGN Advisors LLC Sells 2,177 Shares of RTX Co. (NYSE:RTX)

CGN Advisors LLC trimmed its stake in RTX Co. (NYSE:RTX - Free Report) by 11.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,769 shares of the company's stock after selling 2,177 shares during the quarter. CGN Advisors LLC's holdings in RTX were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in RTX. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in RTX during the fourth quarter valued at $31,000. 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 in the last quarter. Greenline Partners LLC acquired a new position in RTX in the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of RTX during the 4th quarter worth about $39,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on RTX shares. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. Citigroup reduced their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company increased their target price on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. DZ Bank raised 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, Susquehanna lowered their price objective on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $159.82.

RTX Stock Up 0.8%

RTX traded up $1.08 during trading on Wednesday, reaching $138.58. The company had a trading volume of 3,200,379 shares, compared to its average volume of 5,363,309. The business's fifty day moving average price is $129.24 and its 200 day moving average price is $125.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12 month low of $99.07 and a 12 month high of $138.83. The company has a market cap of $185.14 billion, a P/E ratio of 39.04, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted 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. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.96%. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX's dividend payout ratio (DPR) is currently 79.77%.

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.