Davidson Investment Advisors Cuts Holdings in RTX Corporation (NYSE:RTX)

Davidson Investment Advisors trimmed its holdings in RTX Corporation (NYSE:RTX - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 368,581 shares of the company's stock after selling 5,099 shares during the period. RTX accounts for approximately 2.4% of Davidson Investment Advisors' holdings, making the stock its 6th largest holding. Davidson Investment Advisors' holdings in RTX were worth $48,822,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bay Capital Advisors LLC acquired a new position in shares of RTX in the 1st quarter valued at $224,000. Dynamic Advisor Solutions LLC raised its stake in shares of RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after acquiring an additional 2,686 shares during the period. Deutsche Bank AG raised its stake in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after acquiring an additional 936,953 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of RTX in the 4th quarter valued at $3,356,000. Finally, Thoroughbred Financial Services LLC raised its stake in shares of RTX by 43.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock valued at $3,046,000 after acquiring an additional 7,987 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction dated 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 transaction, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on 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 sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RTX. Citigroup lowered their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. DZ Bank upgraded 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. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and increased their target price for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

RTX Stock Performance

RTX stock traded up $0.25 during mid-day trading on Monday, reaching $146.00. The company's stock had a trading volume of 4,531,083 shares, compared to its average volume of 5,341,826. The firm has a market cap of $195.05 billion, a price-to-earnings ratio of 42.82, a PEG ratio of 2.63 and a beta of 0.64. The business has a 50 day moving average price of $137.24 and a 200-day moving average price of $129.46. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a twelve month low of $99.42 and a twelve month high of $149.26.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders 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 1.86%. RTX's payout ratio is 79.77%.

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.