Financial Counselors Inc. Sells 6,184 Shares of RTX Corporation (NYSE:RTX)

Financial Counselors Inc. lessened its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 475,354 shares of the company's stock after selling 6,184 shares during the quarter. RTX makes up approximately 1.0% of Financial Counselors Inc.'s portfolio, making the stock its 25th biggest position. Financial Counselors Inc.'s holdings in RTX were worth $62,965,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the 1st quarter worth about $26,000. 10Elms LLP purchased a new stake in shares of RTX in the 4th quarter worth about $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC purchased a new stake in shares of RTX in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business'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 sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction 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 completion of the sale, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. This 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. Benchmark raised shares of 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. JPMorgan Chase & Co. decreased their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company raised their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Finally, UBS Group raised their price objective on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

RTX Price Performance

NYSE:RTX traded down $2.94 during trading hours on Tuesday, hitting $142.98. 908,830 shares of the stock traded hands, compared to its average volume of 5,325,069. 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 1 year low of $99.42 and a 1 year high of $149.26. The company has a market cap of $191.02 billion, a price-to-earnings ratio of 41.99, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. The stock has a 50 day moving average price of $137.66 and a 200 day moving average price of $129.67.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating 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 business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. Sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.90%. 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.