Concord Wealth Partners Sells 4,460 Shares of RTX Corporation (NYSE:RTX)

Concord Wealth Partners cut its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 69.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,991 shares of the company's stock after selling 4,460 shares during the period. Concord Wealth Partners' holdings in RTX were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in RTX in the 4th quarter valued at $1,745,644,000. GAMMA Investing LLC raised its stake in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Invesco Ltd. lifted 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 valued at $1,175,457,000 after purchasing an additional 1,522,251 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after buying an additional 1,252,448 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX traded up $0.18 during trading hours on Friday, reaching $151.68. The company's stock had a trading volume of 5,922,284 shares, compared to its average volume of 5,280,769. The company's 50-day moving average is $141.35 and its 200-day moving average is $131.48. RTX Corporation has a 52 week low of $102.62 and a 52 week high of $152.84. The firm has a market cap of $202.64 billion, a PE ratio of 44.48, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. 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 issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend yield of 1.79%. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% 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.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RTX shares. Sanford C. Bernstein set a $154.00 target price on RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. Morgan Stanley lifted their price objective on shares of RTX from $135.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday. Susquehanna reduced their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Six equities research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $164.28.

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.