CX Institutional Decreases Stock Position in RTX Co. (NYSE:RTX)

CX Institutional cut its position in RTX Co. (NYSE:RTX - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,892 shares of the company's stock after selling 2,258 shares during the quarter. CX Institutional's holdings in RTX were worth $8,331,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. 10Elms LLP acquired a new stake in shares of RTX in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC acquired a new stake in shares of RTX in the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of RTX in the 4th quarter valued at approximately $39,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

RTX stock traded up $4.49 during mid-day trading on Friday, hitting $145.47. 11,752,057 shares of the company were exchanged, compared to its average volume of 5,400,534. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business's 50 day simple moving average is $131.41 and its two-hundred day simple moving average is $126.54. The company has a market capitalization of $194.34 billion, a P/E ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. RTX Co. has a 12-month low of $99.07 and a 12-month high of $146.02.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX's payout ratio is 79.77%.

Insider Buying and Selling at RTX

In other 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 completion of the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $2,328,805.64. Following the sale, the executive vice president now owns 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 disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent analyst reports. 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. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Susquehanna dropped their price objective on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. UBS Group raised their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $159.82.

About RTX

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.