Heritage Investors Management Corp Decreases Stock Position in RTX Corporation (NYSE:RTX)

Heritage Investors Management Corp lowered its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 264,788 shares of the company's stock after selling 4,815 shares during the quarter. RTX makes up about 1.2% of Heritage Investors Management Corp's holdings, making the stock its 21st biggest position. Heritage Investors Management Corp's holdings in RTX were worth $35,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after buying an additional 159 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of RTX by 65.5% in the fourth quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company's stock valued at $1,043,000 after acquiring an additional 3,568 shares during the period. Douglass Winthrop Advisors LLC grew its position in shares of RTX by 27.8% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 8,022 shares of the company's stock worth $928,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of RTX during the fourth quarter worth approximately $234,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on RTX shares. Citigroup upped their price target on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Morgan Stanley lifted their price objective on shares of RTX from $135.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. The Goldman Sachs Group raised their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, Sanford C. Bernstein set a $154.00 price target on RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $164.28.

RTX Price Performance

Shares of RTX traded up $0.18 during mid-day trading on Friday, hitting $151.68. The company's stock had a trading volume of 5,922,284 shares, compared to its average volume of 5,272,943. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 1-year low of $102.62 and a 1-year high of $152.85. The firm has a market capitalization of $202.64 billion, a P/E ratio of 25.81, a P/E/G ratio of 2.82 and a beta of 0.64. The firm has a 50-day simple moving average of $141.35 and a 200 day simple moving average of $131.59.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.79%. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Transactions at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on 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 directly owned 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

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.