Cohen Klingenstein LLC Sells 2,600 Shares of RTX Co. (NYSE:RTX)

Cohen Klingenstein LLC decreased its position in RTX Co. (NYSE:RTX - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 158,427 shares of the company's stock after selling 2,600 shares during the quarter. RTX comprises 0.8% of Cohen Klingenstein LLC's investment portfolio, making the stock its 23rd largest holding. Cohen Klingenstein LLC's holdings in RTX were worth $20,985,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. 10Elms LLP acquired a new position in RTX in the fourth quarter valued at about $29,000. Fairway Wealth LLC bought a new position in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management lifted 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 acquiring an additional 265 shares during the last quarter. Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC acquired a new position in RTX during the fourth quarter worth about $39,000. Institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction that occurred 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 sale, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.89 during midday trading on Thursday, hitting $140.92. The stock had a trading volume of 4,663,104 shares, compared to its average volume of 5,379,992. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $130.91 and a two-hundred day moving average price of $126.33. RTX Co. has a 1 year low of $99.07 and a 1 year high of $142.06. The company has a market capitalization of $188.26 billion, a PE ratio of 39.70, a P/E/G ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, equities analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is presently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of analyst reports. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. UBS Group raised their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $159.82.

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.