Essex LLC Has $3.63 Million Holdings in RTX Corporation (NYSE:RTX)

Essex LLC decreased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,365 shares of the company's stock after selling 3,100 shares during the quarter. Essex LLC's holdings in RTX were worth $3,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in RTX during the first quarter worth approximately $26,000. 10Elms LLP acquired a new position in RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC bought a new position in shares of RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management boosted its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Finally, Greenline Partners LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling at RTX

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

RTX Trading Up 1.4%

NYSE RTX opened at $144.64 on Monday. The firm has a market capitalization of $193.23 billion, a P/E ratio of 42.42, a PEG ratio of 2.61 and a beta of 0.63. The business has a fifty day simple moving average of $134.87 and a 200 day simple moving average of $128.46. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. On average, analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.88%. RTX's payout ratio is 79.77%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RTX shares. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research report on Wednesday, April 23rd. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Wells Fargo & Company increased their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Finally, Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Four research 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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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