Hohimer Wealth Management LLC Reduces Holdings in RTX Corporation (NYSE:RTX)

Hohimer Wealth Management LLC cut its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 82.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,384 shares of the company's stock after selling 29,653 shares during the period. Hohimer Wealth Management LLC's holdings in RTX were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bay Capital Advisors LLC bought a new stake in shares of RTX during the first quarter worth $224,000. Dynamic Advisor Solutions LLC increased its stake in RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after buying an additional 2,686 shares during the period. Deutsche Bank AG lifted its holdings in RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after buying an additional 936,953 shares in the last quarter. LBP AM SA boosted its position in RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after buying an additional 41,990 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new position in RTX in the 4th quarter worth about $3,356,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on RTX shares. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Cowen reiterated a "buy" rating on shares of RTX in a report on Friday, May 23rd. UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. The Goldman Sachs Group increased their target price on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, RTX has an average rating of "Moderate Buy" and a consensus price target of $163.12.

RTX Trading Up 1.8%

Shares of RTX traded up $2.60 during mid-day trading on Monday, reaching $149.47. The stock had a trading volume of 4,451,451 shares, compared to its average volume of 5,396,750. RTX Corporation has a 52-week low of $101.52 and a 52-week high of $149.57. The firm has a market cap of $199.68 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 2.73 and a beta of 0.64. The business's fifty day moving average is $139.16 and its 200 day moving average is $130.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

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. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.82%. RTX's dividend payout ratio (DPR) is 79.77%.

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.