Koss Olinger Consulting LLC Reduces Position in RTX Corporation (NYSE:RTX)

Key Points

• Koss Olinger Consulting LLC reduced its stake in RTX Corporation by 84.8%, selling 16,732 shares to hold a total of 2,990 shares valued at approximately $396,000.
• Insider selling was significant, with two executives selling a combined total of 29,769 shares, indicating a potential shift in management sentiment towards the stock.
• RTX recently beat earnings expectations for the quarter with $1.56 EPS against an estimated $1.45, and reported a revenue of $21.58 billion, reflecting a 9.4% year-over-year increase.

Koss Olinger Consulting LLC cut its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 84.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,990 shares of the company's stock after selling 16,732 shares during the quarter. Koss Olinger Consulting LLC's holdings in RTX were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in RTX during the first quarter valued at about $26,000. 10Elms LLP bought a new stake in shares of RTX during the fourth quarter valued at about $29,000. Greenline Partners LLC bought a new stake in shares of RTX during the fourth quarter valued at about $34,000. Mpwm Advisory Solutions LLC bought a new stake in shares of RTX during the fourth quarter valued at about $43,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of RTX during the first quarter valued at about $44,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of the 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 completion of the sale, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the sale, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 39,935 shares of company stock worth $5,938,488. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RTX shares. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Susquehanna upped their price target on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price target on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley upped their price target on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Stock Down 0.5%

Shares of NYSE RTX opened at $154.98 on Friday. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm's 50 day simple moving average is $147.87 and its two-hundred day simple moving average is $135.46. The stock has a market capitalization of $207.45 billion, a P/E ratio of 34.06, a PEG ratio of 2.85 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same period last year, the business earned $1.41 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect 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. Stockholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

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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