Coastwise Capital Group LLC Reduces Stake in RTX Corporation (NYSE:RTX)

Coastwise Capital Group LLC cut its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 27.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,138 shares of the company's stock after selling 1,932 shares during the period. Coastwise Capital Group LLC's holdings in RTX were worth $681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RTX. Norges Bank bought a new stake in RTX during the fourth quarter valued at about $1,745,644,000. GAMMA Investing LLC increased its holdings in shares of RTX by 14,838.5% in 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 during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of RTX by 43.1% in 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 during the last quarter. Invesco Ltd. increased its holdings in shares of RTX by 17.6% in 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 during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on RTX shares. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Royal Bank Of Canada cut their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Cowen reaffirmed a "buy" rating on shares of RTX in a research note on Friday, May 23rd. The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Finally, Citigroup upped their target price on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $164.28.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

RTX Stock Performance

Shares of RTX stock opened at $151.68 on Friday. The business's fifty day simple moving average is $141.35 and its 200-day simple moving average is $131.59. The company has a market cap of $202.64 billion, a PE ratio of 44.48, a PEG ratio of 2.82 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12-month low of $102.62 and a 12-month high of $152.85.

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, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 yield of 1.79%. RTX's dividend payout ratio is currently 79.77%.

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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