Envestnet Portfolio Solutions Inc. Decreases Stake in RTX Corporation (NYSE:RTX)

Envestnet Portfolio Solutions Inc. cut its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 20.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,052 shares of the company's stock after selling 16,418 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in RTX were worth $8,617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. 10Elms LLP acquired a new position in shares of RTX in the fourth quarter valued at about $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management boosted its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new position in RTX in the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC purchased a new position in RTX during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RTX. Citigroup cut their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a research report on Wednesday, April 23rd. 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $159.82.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were 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 now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

RTX Trading Up 0.6%

Shares of NYSE:RTX opened at $146.75 on Friday. The business's 50 day moving average price is $133.43 and its 200-day moving average price is $127.42. RTX Corporation has a 1 year low of $99.07 and a 1 year high of $149.26. The firm has a market capitalization of $196.05 billion, a price-to-earnings ratio of 43.04, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. 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 (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.85%. RTX's payout ratio is currently 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.

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