Choreo LLC Trims Stake in RTX Corporation (NYSE:RTX)

Choreo LLC reduced its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 8.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,192 shares of the company's stock after selling 9,304 shares during the quarter. Choreo LLC's holdings in RTX were worth $13,139,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of RTX in the 4th quarter valued at about $1,745,644,000. GAMMA Investing LLC boosted its position in RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in RTX by 43.1% during the fourth 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 in the last quarter. Invesco Ltd. boosted its position in RTX by 17.6% during the fourth 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 in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in RTX during the fourth quarter worth approximately $138,585,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares in the company, valued at $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 currently owned by corporate insiders.

RTX Stock Down 1.8%

RTX stock traded down $2.71 during mid-day trading on Tuesday, reaching $148.85. The company's stock had a trading volume of 3,570,404 shares, compared to its average volume of 5,276,167. The company has a market capitalization of $198.85 billion, a price-to-earnings ratio of 43.73, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. RTX Corporation has a 12 month low of $102.62 and a 12 month high of $153.39. The business's 50 day simple moving average is $141.35 and its 200 day simple moving average is $131.70. 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 (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the previous year, the firm posted $1.41 EPS. The firm'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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. RTX's payout ratio is 79.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RTX shares. Wells Fargo & Company increased 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 price objective on the stock in a report on Wednesday, May 14th. Citigroup upped their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, The Goldman Sachs Group boosted their target price on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of "Moderate Buy" and an average target price of $164.28.

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.

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