Fluent Financial LLC Reduces Stock Position in RTX Co. (NYSE:RTX)

Fluent Financial LLC lessened its stake in RTX Co. (NYSE:RTX - Free Report) by 78.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,015 shares of the company's stock after selling 7,452 shares during the quarter. Fluent Financial LLC's holdings in RTX were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RTX. BridgePort Financial Solutions LLC bought a new stake in RTX in the fourth quarter worth $1,395,000. Total Wealth Planning & Management Inc. bought a new stake in RTX in the fourth quarter worth $367,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in RTX in the fourth quarter worth $57,616,000. Brooklyn FI LLC bought a new stake in RTX in the fourth quarter worth $533,000. Finally, Brucke Financial Inc. bought a new stake in RTX in the fourth quarter worth $427,000. Institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. UBS Group upped 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. JPMorgan Chase & Co. lowered their price objective 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. Finally, Royal Bank of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of "Buy" and an average price target of $159.82.

RTX Stock Up 1.2%

RTX traded up $1.63 during midday trading on Friday, reaching $136.43. The company's stock had a trading volume of 8,195,041 shares, compared to its average volume of 5,407,482. The firm has a market capitalization of $182.26 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 2.11 and a beta of 0.60. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 1 year low of $99.07 and a 1 year high of $138.82. The stock's 50-day moving average is $129.09 and its 200-day moving average is $125.12.

RTX (NYSE:RTX - Get Free Report) last announced 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. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.99%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by insiders.

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.