Douglas Lane & Associates LLC Decreases Stock Position in RTX Co. (NYSE:RTX)

Douglas Lane & Associates LLC reduced its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 262,719 shares of the company's stock after selling 131,333 shares during the quarter. Douglas Lane & Associates LLC's holdings in RTX were worth $34,800,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Iowa State Bank boosted its stake in RTX by 4.7% in the first quarter. Iowa State Bank now owns 37,069 shares of the company's stock valued at $4,910,000 after buying an additional 1,656 shares in the last quarter. Dakota Community Bank & Trust NA boosted its stake in RTX by 10.2% in the first quarter. Dakota Community Bank & Trust NA now owns 1,407 shares of the company's stock valued at $186,000 after buying an additional 130 shares in the last quarter. Czech National Bank boosted its stake in RTX by 6.0% in the first quarter. Czech National Bank now owns 305,969 shares of the company's stock valued at $40,529,000 after buying an additional 17,378 shares in the last quarter. Mechanics Bank Trust Department boosted its stake in RTX by 12.2% in the first quarter. Mechanics Bank Trust Department now owns 11,303 shares of the company's stock valued at $1,497,000 after buying an additional 1,233 shares in the last quarter. Finally, Aletheian Wealth Advisors LLC acquired a new stake in shares of RTX during the first quarter valued at about $237,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of RTX stock traded up $0.63 during trading hours on Thursday, reaching $139.18. 1,358,548 shares of the company traded hands, compared to its average volume of 5,337,190. The firm has a 50-day moving average price of $129.37 and a 200 day moving average price of $125.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12-month low of $99.07 and a 12-month high of $139.37. The company has a market cap of $185.94 billion, a P/E ratio of 39.20, a P/E/G ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.95%. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio is 79.77%.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research analyst reports. Citigroup cut their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada dropped their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Argus upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. 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 research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, RTX presently has an average rating of "Buy" and an average price target of $159.82.

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.