Kirtland Hills Capital Management LLC Sells 9,524 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Kirtland Hills Capital Management LLC significantly reduced its holdings in RTX Corporation by 48.7%, selling 9,524 shares during the 1st quarter, leaving them with 10,016 shares worth approximately $1.29 million.
• Multiple analysts have expressed positive sentiment towards RTX, with price targets raised by firms such as Morgan Stanley and JPMorgan Chase, indicating expectations of growth in the stock.
• RTX Corporation also announced a quarterly dividend of $0.68 per share, with a dividend yield of 1.74%, reflecting their ongoing commitment to returning value to shareholders.

Kirtland Hills Capital Management LLC lowered its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 48.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,016 shares of the company's stock after selling 9,524 shares during the quarter. Kirtland Hills Capital Management LLC's holdings in RTX were worth $1,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Guardian Wealth Advisors LLC NC increased its stake in RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after purchasing an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its stake in shares of RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after purchasing an additional 82 shares during the last quarter. Weatherly Asset Management L. P. lifted its position in shares of RTX by 0.4% in the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after buying an additional 82 shares during the last quarter. CLG LLC grew its stake in RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after buying an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC grew its holdings in RTX by 3.3% in the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after buying an additional 84 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction dated 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 sale, the vice president directly owned 30,004 shares of the company's stock, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,234 shares of company stock worth $4,439,755 over the last 90 days. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research note on Monday, July 21st. The Goldman Sachs Group boosted their target price on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 target price (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Bank of America raised their target price on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.67.

RTX Stock Performance

Shares of RTX stock traded down $0.56 during trading on Friday, hitting $157.01. The company's stock had a trading volume of 2,476,524 shares, compared to its average volume of 5,384,849. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market cap of $210.17 billion, a PE ratio of 34.52, a P/E/G ratio of 2.92 and a beta of 0.64. The business has a fifty day moving average of $145.20 and a 200-day moving average of $133.94. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79.

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

RTX Dividend Announcement

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

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.