Deroy & Devereaux Private Investment Counsel Inc. Reduces Stock Position in RTX Corporation (NYSE:RTX)

Deroy & Devereaux Private Investment Counsel Inc. decreased its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 222,616 shares of the company's stock after selling 2,188 shares during the quarter. RTX comprises 1.7% of Deroy & Devereaux Private Investment Counsel Inc.'s holdings, making the stock its 17th largest position. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in RTX were worth $29,488,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX in the 1st quarter worth $26,000. 10Elms LLP purchased a new stake in shares of RTX in the fourth quarter valued at about $29,000. Fairway Wealth LLC acquired a new stake in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC acquired a new position in RTX in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on 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 $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Up 0.9%

RTX stock opened at $145.80 on Friday. The firm has a market capitalization of $194.78 billion, a P/E ratio of 42.76, a P/E/G ratio of 2.61 and a beta of 0.64. 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. The stock's fifty day simple moving average is $136.83 and its 200-day simple moving average is $129.07.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. RTX's payout ratio is 79.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RTX. Susquehanna cut their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price target on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $161.12.

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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