RTX Corporation (NYSE:RTX) Shares Sold by Cutler Investment Counsel LLC

Key Points

• Cutler Investment Counsel LLC has reduced its holdings in RTX Corporation by 2.2%, now owning 120,632 shares valued at approximately $15.98 million, making it their 19th largest holding.
• Insider trading activity saw VP Amy L. Johnson sell 4,146 shares and VP Kevin G. Dasilva sell 8,704 shares, collectively reducing their ownership significantly, with insiders selling a total of 31,234 shares worth about $4.44 million over the last quarter.
• RTX recently reported earnings of $1.56 per share for the last quarter, exceeding analysts' expectations, and the company has declared a quarterly dividend of $0.68 per share with a yield of 1.72%.

Cutler Investment Counsel LLC reduced its stake in RTX Corporation (NYSE:RTX - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,632 shares of the company's stock after selling 2,673 shares during the period. RTX makes up about 1.9% of Cutler Investment Counsel LLC's holdings, making the stock its 19th largest holding. Cutler Investment Counsel LLC's holdings in RTX were worth $15,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in RTX during the first quarter worth approximately $26,000. 10Elms LLP acquired a new position in shares of RTX in the 4th quarter valued at $29,000. Greenline Partners LLC purchased a new position in shares of RTX in the 4th quarter valued at $34,000. Mpwm Advisory Solutions LLC acquired a new stake in RTX during the 4th quarter worth $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in RTX in the first quarter valued at $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. The trade was a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,234 shares of company stock valued at $4,439,755 in the last three months. Corporate insiders own 0.15% of the company's stock.

RTX Stock Down 0.4%

Shares of NYSE RTX traded down $0.65 during midday trading on Friday, reaching $156.92. 4,418,299 shares of the company's stock were exchanged, compared to its average volume of 4,749,872. 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 Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The business's fifty day moving average price is $145.69 and its two-hundred day moving average price is $134.20. The stock has a market capitalization of $210.04 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.90 and a beta of 0.68.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. Analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio (DPR) is 59.78%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RTX. 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 reiterated an "outperform" rating and issued a $170.00 price objective (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. Finally, Barclays raised their price objective on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

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.