Exencial Wealth Advisors LLC Sells 68,856 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Exencial Wealth Advisors LLC significantly reduced its stake in RTX Corporation by 82.3%, selling 68,856 shares and leaving them with 14,837 shares valued at approximately $1.97 million.
• Multiple institutional investors have recently increased their holdings in RTX, with institutions currently owning approximately 86.50% of the company's stock.
• RTX Corporation declared a quarterly dividend of $0.68 per share, with a yield of 1.7%, and the payout ratio currently sits at 59.78%.

Exencial Wealth Advisors LLC reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 82.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,837 shares of the company's stock after selling 68,856 shares during the quarter. Exencial Wealth Advisors LLC's holdings in RTX were worth $1,965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Brighton Jones LLC boosted its position in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after acquiring an additional 159 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of RTX by 2.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,876 shares of the company's stock valued at $1,143,000 after acquiring an additional 258 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of RTX by 22.4% during the 4th quarter. Federated Hermes Inc. now owns 225,633 shares of the company's stock valued at $26,110,000 after acquiring an additional 41,250 shares during the last quarter. Finally, Trek Financial LLC bought a new position in shares of RTX during the 4th quarter valued at approximately $230,000. 86.50% of the stock is currently owned by institutional investors.

Insider Transactions at RTX

In other news, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider owned 17,684 shares in the company, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,935 shares of company stock worth $5,938,488. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

RTX stock opened at $155.89 on Thursday. The firm has a market cap of $208.67 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.88 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. The business's fifty day simple moving average is $147.09 and its two-hundred day simple moving average is $134.95.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend yield of 1.7%. RTX's dividend payout ratio is currently 59.78%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Bank of America raised their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Cowen restated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Morgan Stanley raised their price target on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and an average target price of $158.67.

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.

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