RTX Corporation (NYSE:RTX) Shares Sold by Freemont Management S.A.

Key Points

• Freemont Management S.A. reduced its stake in RTX Corporation by 8.9%, now owning 41,900 shares valued at approximately $5.55 million, positioning RTX as its 14th largest holding.
• RTX reported $1.56 earnings per share for its recent quarter, surpassing the consensus estimate by $0.11, with revenues of $21.58 billion, reflecting a 9.4% year-over-year increase.
• The company declared a quarterly dividend of $0.68 per share, yielding 1.75%, with a dividend payout ratio of 79.77% for investors of record by August 15th.

Freemont Management S.A. lessened its holdings in RTX Corporation (NYSE:RTX - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,900 shares of the company's stock after selling 4,100 shares during the period. RTX makes up approximately 1.8% of Freemont Management S.A.'s portfolio, making the stock its 14th biggest holding. Freemont Management S.A.'s holdings in RTX were worth $5,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Guardian Wealth Advisors LLC NC grew its position in RTX by 1.7% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after acquiring an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its stake in RTX by 2.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after buying an additional 82 shares in the last quarter. Weatherly Asset Management L. P. raised its stake in RTX by 0.4% in the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after buying an additional 82 shares in the last quarter. CLG LLC raised its stake in RTX by 2.3% in the first quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after buying an additional 83 shares in the last quarter. Finally, 49 Wealth Management LLC raised its stake in RTX by 3.3% in the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock worth $302,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated 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 directly owned 9,546 shares in the company, 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. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,530 shares of company stock valued at $3,080,191 over the last ninety days. Company insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of NYSE:RTX traded up $1.64 during midday trading on Friday, reaching $156.86. The company's stock had a trading volume of 4,727,235 shares, compared to its average volume of 4,909,235. The firm has a market capitalization of $209.96 billion, a PE ratio of 34.47, a P/E/G ratio of 2.89 and a beta of 0.64. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $143.48 and a 200 day moving average of $132.93. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $157.33.

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

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.73%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RTX. Bank of America increased their price target on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 target price (up previously from $165.00) on shares of RTX in a report on Wednesday. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $154.88.

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.