DLK Investment Management LLC Reduces Position in RTX Corporation (NYSE:RTX)

DLK Investment Management LLC cut its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,221 shares of the company's stock after selling 6,574 shares during the period. RTX accounts for 2.8% of DLK Investment Management LLC's portfolio, making the stock its 9th biggest position. DLK Investment Management LLC's holdings in RTX were worth $6,785,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 10Elms LLP purchased a new position in shares of RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new stake in RTX during the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its stake in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in RTX during the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX in the fourth quarter worth $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target on the stock in a research note on Wednesday, April 23rd. Citigroup decreased their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $161.12.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 completion of the sale, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Stock Up 1.0%

NYSE:RTX traded up $1.36 during mid-day trading on Thursday, reaching $142.74. The stock had a trading volume of 5,407,422 shares, compared to its average volume of 5,396,999. The stock has a market cap of $190.69 billion, a P/E ratio of 41.86, a PEG ratio of 2.56 and a beta of 0.63. The business's 50 day moving average is $134.28 and its 200 day moving average is $127.93. 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 Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current 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 represents a $2.72 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. 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.