GKV Capital Management Co. Inc. Sells 25,515 Shares of RTX Corporation (NYSE:RTX)

Key Points

• GKV Capital Management Co. Inc. has reduced its holdings in RTX Corporation by 97.5%, selling 25,515 shares and retaining only 651, valued at $86,000.
• RTX announced a quarterly dividend of $0.68 per share, with a total annualized dividend of $2.72, resulting in a yield of 1.7%.
• Research analysts have rated RTX with an average target price of $158.67, with a consensus rating of "Moderate Buy" among market analysts.

GKV Capital Management Co. Inc. reduced its position in RTX Corporation (NYSE:RTX - Free Report) by 97.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 651 shares of the company's stock after selling 25,515 shares during the quarter. GKV Capital Management Co. Inc.'s holdings in RTX were worth $86,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares during the period. Northern Trust Corp lifted its position in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after purchasing an additional 997,806 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Charles Schwab Investment Management Inc. lifted its position in RTX by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after purchasing an additional 104,139 shares during the period. Finally, Invesco Ltd. lifted its position in RTX by 1.5% in the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after purchasing an additional 154,544 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

Shares of RTX stock traded down $0.46 during trading hours on Thursday, hitting $155.25. 2,766,508 shares of the company's stock were exchanged, compared to its average volume of 5,066,212. The stock's 50-day moving average is $149.25 and its 200-day moving average is $136.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market cap of $207.81 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79.

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

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. This trade represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock valued at $7,126,389 over the last ninety days. Company insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RTX. Citigroup raised their target price on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. UBS Group increased their price objective on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Susquehanna increased their price objective on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

About RTX

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.