Envestnet Asset Management Inc. Lowers Holdings in RTX Corporation (NYSE:RTX)

Envestnet Asset Management Inc. trimmed its position in RTX Corporation (NYSE:RTX - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,271,589 shares of the company's stock after selling 133,675 shares during the period. Envestnet Asset Management Inc. owned approximately 0.24% of RTX worth $433,355,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bay Capital Advisors LLC acquired a new position in shares of RTX during the 1st quarter worth $224,000. Dynamic Advisor Solutions LLC increased its stake in shares of RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after acquiring an additional 2,686 shares during the last quarter. Deutsche Bank AG increased its stake in shares of RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after acquiring an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of RTX during the 4th quarter valued at about $3,356,000. Finally, Thoroughbred Financial Services LLC increased its position in RTX by 43.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after purchasing an additional 7,987 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Price Performance

Shares of RTX opened at $146.00 on Tuesday. The stock's fifty day moving average is $137.66 and its 200-day moving average is $129.67. The firm has a market capitalization of $195.05 billion, a price-to-earnings ratio of 42.82, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. RTX Corporation has a one year low of $99.42 and a one year high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

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, topping analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Equities analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.86%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RTX shares. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a research report on Friday, April 25th. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Citigroup reduced their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Susquehanna dropped their price target on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group upped their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

About RTX

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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