Farther Finance Advisors LLC Sells 8,457 Shares of RTX Co. (NYSE:RTX)

Farther Finance Advisors LLC decreased its stake in RTX Co. (NYSE:RTX - Free Report) by 16.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,067 shares of the company's stock after selling 8,457 shares during the quarter. Farther Finance Advisors LLC's holdings in RTX were worth $5,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Norges Bank purchased a new stake in RTX in the 4th quarter worth about $1,745,644,000. GAMMA Investing LLC lifted its stake in RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after acquiring an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares in the last quarter. Amundi lifted its stake in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company's stock worth $728,964,000 after acquiring an additional 2,854,928 shares in the last quarter. Finally, Capital Wealth Planning LLC purchased a new stake in RTX in the 4th quarter worth about $216,340,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred 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 sale, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

RTX has been the subject of several research analyst reports. Susquehanna reduced their price objective on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. UBS Group raised their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Citigroup cut their price target on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $159.82.

RTX Stock Up 3.2%

Shares of NYSE RTX traded up $4.49 during mid-day trading on Friday, reaching $145.47. 11,752,057 shares of the company traded hands, compared to its average volume of 5,398,595. The stock has a market cap of $194.34 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. The company's fifty day moving average is $131.41 and its two-hundred day moving average is $126.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $149.94.

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, beating 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 12.45% and a net margin of 5.91%. On average, analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is 79.77%.

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.