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Cutler Investment Counsel LLC Has $15.98 Million Stock Holdings in RTX Corporation (NYSE:RTX)

RTX logo with Aerospace background

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%.
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Cutler Investment Counsel LLC reduced its position in RTX Corporation (NYSE:RTX - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,632 shares of the company's stock after selling 2,673 shares during the period. RTX makes up approximately 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RTX. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $26,000. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter valued at about $29,000. Greenline Partners LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $34,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $43,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $45,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction dated 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 sale, the vice president owned 30,004 shares of the company's stock, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,234 shares of company stock valued at $4,439,755 over the last quarter. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RTX shares. Barclays raised their target price on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday. Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a report on Friday, April 25th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group increased their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, RTX presently has an average rating of "Moderate Buy" and an average price target of $157.13.

Check Out Our Latest Report on RTX

RTX Stock Performance

RTX stock traded up $1.39 on Wednesday, reaching $158.51. The company's stock had a trading volume of 3,994,084 shares, compared to its average volume of 4,567,239. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79. The company has a market capitalization of $212.17 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. The firm has a fifty day moving average of $144.73 and a two-hundred day moving average of $133.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 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 company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the previous year, the firm earned $1.41 EPS. RTX's revenue was up 9.4% on a year-over-year basis. As a group, analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 1.72%. RTX's dividend payout ratio (DPR) is 59.78%.

About RTX

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for RTX (NYSE:RTX)

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