Hennessy Advisors Inc. Reduces Stock Holdings in RTX Co. (NYSE:RTX)

Hennessy Advisors Inc. reduced its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,200 shares of the company's stock after selling 12,700 shares during the quarter. Hennessy Advisors Inc.'s holdings in RTX were worth $5,987,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. 10Elms LLP purchased a new stake in RTX during the 4th quarter worth approximately $29,000. Fairway Wealth LLC purchased a new stake in RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX during the 4th quarter worth approximately $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

RTX Trading Up 3.2%

NYSE:RTX opened at $145.47 on Friday. RTX Co. has a 12-month low of $99.07 and a 12-month high of $146.02. The firm has a market capitalization of $194.34 billion, a P/E ratio of 40.98, a P/E/G ratio of 2.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business has a 50 day simple moving average of $131.41 and a 200 day simple moving average of $126.54.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Equities research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is 79.77%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RTX shares. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. UBS Group lifted their target price on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of "Buy" and an average price target of $159.82.

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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