Davis R M Inc. Reduces Position in RTX Corporation (NYSE:RTX)

Key Points

• Davis R M Inc. reduced its stake in RTX Corporation by 1.8%, now holding 355,246 shares valued at $47 million.
• RTX recently announced a quarterly dividend of $0.68 per share, translating to an annualized dividend of $2.72 and a yield of 1.72%.
• The company's stock is currently rated as a "Moderate Buy" by analysts, with a price target consensus of $158.67.

Davis R M Inc. decreased its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 355,246 shares of the company's stock after selling 6,537 shares during the period. Davis R M Inc.'s holdings in RTX were worth $47,056,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bay Capital Advisors LLC purchased a new position in RTX during the first quarter worth $224,000. Dynamic Advisor Solutions LLC increased its position in RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after buying an additional 2,686 shares in the last quarter. Brookwood Investment Group LLC purchased a new stake in shares of RTX in the first quarter valued at $1,288,000. Deutsche Bank AG grew its position in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the period. Finally, LBP AM SA grew its position in shares of RTX by 17.7% in the first quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after purchasing an additional 41,990 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.9%

Shares of RTX stock opened at $158.51 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The business's 50 day simple moving average is $144.73 and its 200-day simple moving average is $133.67. The stock has a market capitalization of $212.17 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.89 and a beta of 0.64. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79.

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

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.72%. RTX's dividend payout ratio (DPR) is 59.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RTX. JPMorgan Chase & Co. lifted their price objective on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price target on RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Wells Fargo & Company boosted their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. UBS Group boosted their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,234 shares of company stock valued at $4,439,755. 0.15% of the stock is owned by corporate insiders.

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.

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