Highland Capital Management LLC Sells 3,722 Shares of RTX Corporation (NYSE:RTX)

Highland Capital Management LLC cut its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,164 shares of the company's stock after selling 3,722 shares during the period. RTX comprises approximately 0.8% of Highland Capital Management LLC's investment portfolio, making the stock its 23rd biggest position. Highland Capital Management LLC's holdings in RTX were worth $14,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vista Investment Partners II LLC bought a new stake in RTX during the first quarter worth $274,000. Gold Investment Management Ltd. lifted its stake in RTX by 9.9% during the first quarter. Gold Investment Management Ltd. now owns 3,379 shares of the company's stock worth $448,000 after purchasing an additional 305 shares during the last quarter. 3Chopt Investment Partners LLC lifted its stake in RTX by 2.8% during the first quarter. 3Chopt Investment Partners LLC now owns 14,664 shares of the company's stock worth $1,942,000 after purchasing an additional 394 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in RTX by 14.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,054 shares of the company's stock worth $20,687,000 after purchasing an additional 20,187 shares during the last quarter. Finally, Lafayette Investments Inc. lifted its stake in RTX by 15.4% during the first quarter. Lafayette Investments Inc. now owns 4,933 shares of the company's stock worth $653,000 after purchasing an additional 657 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 1.4%

Shares of NYSE:RTX opened at $144.64 on Friday. The firm has a market cap of $193.23 billion, a P/E ratio of 42.42, a P/E/G ratio of 2.58 and a beta of 0.63. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26. The business has a fifty day simple moving average of $134.87 and a 200 day simple moving average of $128.29.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results 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. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates 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 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.88%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. The Goldman Sachs Group upped their price target on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Royal Bank Of Canada dropped their price target on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $161.12.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 completion of the transaction, the executive vice president now directly owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Company 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.

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