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Garland Capital Management Inc. Sells 2,870 Shares of RTX Corporation (NYSE:RTX)

RTX logo with Aerospace background

Garland Capital Management Inc. decreased its position in RTX Corporation (NYSE:RTX - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,385 shares of the company's stock after selling 2,870 shares during the period. RTX makes up 4.0% of Garland Capital Management Inc.'s holdings, making the stock its 10th biggest holding. Garland Capital Management Inc.'s holdings in RTX were worth $4,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. LaFleur & Godfrey LLC lifted its holdings in RTX by 0.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock valued at $20,620,000 after buying an additional 900 shares during the period. Brighton Jones LLC raised its holdings in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after purchasing an additional 159 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of RTX by 59.0% during the fourth quarter. Venturi Wealth Management LLC now owns 3,537 shares of the company's stock valued at $409,000 after purchasing an additional 1,312 shares during the period. Finally, Ieq Capital LLC raised its holdings in shares of RTX by 4.6% during the fourth quarter. Ieq Capital LLC now owns 89,530 shares of the company's stock valued at $10,360,000 after purchasing an additional 3,918 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Trading Up 0.6%

NYSE:RTX opened at $146.75 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market cap of $196.05 billion, a price-to-earnings ratio of 43.04, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26. The firm has a 50-day moving average price of $133.43 and a two-hundred day moving average price of $127.42.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, equities analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.68 dividend. This is a positive change from RTX's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.85%. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm's 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. The trade was 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 equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Royal Bank Of Canada dropped their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Susquehanna lowered their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and an average target price of $159.82.

View Our Latest Report on RTX

RTX Profile

(Free Report)

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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Institutional Ownership by Quarter for RTX (NYSE:RTX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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