RTX Co. (NYSE:RTX) Shares Sold by Gradient Investments LLC

Gradient Investments LLC lowered its position in RTX Co. (NYSE:RTX - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,495 shares of the company's stock after selling 8,026 shares during the period. Gradient Investments LLC's holdings in RTX were worth $14,769,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RTX. Arlington Financial Advisors LLC purchased a new stake in RTX during the 1st quarter valued at about $267,000. Strong Tower Advisory Services grew its stake in RTX by 14.0% during the 1st quarter. Strong Tower Advisory Services now owns 24,130 shares of the company's stock valued at $3,196,000 after acquiring an additional 2,957 shares in the last quarter. NBC Securities Inc. grew its stake in RTX by 159,475.0% during the 1st quarter. NBC Securities Inc. now owns 12,766 shares of the company's stock valued at $1,690,000 after acquiring an additional 12,758 shares in the last quarter. Enterprise Bank & Trust Co grew its stake in RTX by 157.9% during the 1st quarter. Enterprise Bank & Trust Co now owns 9,229 shares of the company's stock valued at $1,222,000 after acquiring an additional 5,650 shares in the last quarter. Finally, Iowa State Bank grew its stake in RTX by 4.7% during the 1st quarter. Iowa State Bank now owns 37,069 shares of the company's stock valued at $4,910,000 after acquiring an additional 1,656 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Up 0.3%

NYSE:RTX traded up $0.41 during midday trading on Thursday, hitting $138.96. 1,125,055 shares of the company were exchanged, compared to its average volume of 5,336,296. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $139.37. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $185.64 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company has a fifty day simple moving average of $129.37 and a 200 day simple moving average of $125.48.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, May 23rd. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now owns 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. 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 report 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 report on Monday, April 28th. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. Finally, Citigroup reduced their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $159.82.

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.