Douglass Winthrop Advisors LLC Decreases Stake in RTX Corporation $RTX

Key Points

• Douglass Winthrop Advisors LLC reduced its holdings in RTX Corporation by 29.1%, leaving them with 5,686 shares valued at $753,000.
• RTX recently announced a quarterly dividend of $0.68 per share, providing an annualized yield of 1.7%.
• The company reported earnings of $1.56 EPS for the last quarter, exceeding analysts' expectations and marking a 9.4% increase in revenue compared to the previous year.

Douglass Winthrop Advisors LLC reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,686 shares of the company's stock after selling 2,336 shares during the period. Douglass Winthrop Advisors LLC's holdings in RTX were worth $753,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Van Hulzen Asset Management LLC increased its holdings in shares of RTX by 0.4% during the first quarter. Van Hulzen Asset Management LLC now owns 30,118 shares of the company's stock worth $3,989,000 after buying an additional 113 shares in the last quarter. Strategies Wealth Advisors LLC acquired a new position in shares of RTX during the first quarter worth $311,000. Titan Global Capital Management USA LLC increased its holdings in shares of RTX by 13.6% during the first quarter. Titan Global Capital Management USA LLC now owns 40,540 shares of the company's stock worth $5,370,000 after buying an additional 4,850 shares in the last quarter. Allstate Corp increased its holdings in shares of RTX by 17.4% during the first quarter. Allstate Corp now owns 46,292 shares of the company's stock worth $6,132,000 after buying an additional 6,868 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of RTX by 2.0% during the first quarter. Kestra Advisory Services LLC now owns 227,626 shares of the company's stock worth $30,151,000 after buying an additional 4,505 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,589 shares of company stock worth $7,126,389. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on RTX shares. Bank of America increased their price objective on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. Morgan Stanley increased their price objective on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Cowen reiterated a "buy" rating on shares of RTX in a report on Friday, May 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $158.67.

RTX Stock Up 0.6%

Shares of RTX stock traded up $0.92 on Thursday, reaching $160.76. 3,068,984 shares of the company were exchanged, compared to its average volume of 5,206,267. The company has a market cap of $215.18 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.94 and a beta of 0.69. The company has a 50-day moving average of $151.66 and a 200-day moving average of $137.96. 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 one year low of $112.27 and a one year high of $161.26.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. RTX's dividend payout ratio is 59.78%.

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.