Heck Capital Advisors LLC Cuts Stake in RTX Corporation (NYSE:RTX)

Key Points

• Heck Capital Advisors LLC significantly reduced its stake in RTX Corporation by 48.9%, selling nearly 9,549 shares in the first quarter, resulting in a total of 9,962 shares valued at approximately $1.32 million.
• Several other large investors have entered positions in RTX, with institutional ownership currently at 86.50%.
• RTX recently declared a quarterly dividend of $0.68, translating to an annual yield of 1.7%, demonstrating their ongoing commitment to returning value to shareholders.

Heck Capital Advisors LLC lowered its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 48.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,962 shares of the company's stock after selling 9,549 shares during the quarter. Heck Capital Advisors LLC's holdings in RTX were worth $1,320,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of RTX in the 1st quarter valued at about $26,000. 10Elms LLP purchased a new position in shares of RTX in the 4th quarter valued at about $29,000. Greenline Partners LLC purchased a new position in shares of RTX in the 4th quarter valued at about $34,000. Mpwm Advisory Solutions LLC purchased a new position in shares of RTX in the 4th quarter valued at about $43,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of RTX in the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RTX. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. The Goldman Sachs Group increased their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Bank of America increased their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Buying and Selling at RTX

In related 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 value of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. The trade was a 22.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,935 shares of company stock worth $5,938,488. 0.15% of the stock is currently owned by corporate insiders.

RTX Price Performance

RTX opened at $155.54 on Wednesday. The company's 50 day simple moving average is $148.58 and its 200 day simple moving average is $135.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The stock has a market capitalization of $208.20 billion, a PE ratio of 34.18, a P/E/G ratio of 2.85 and a beta of 0.69.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's payout ratio is 59.78%.

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.

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