Kovack Advisors Inc. Sells 2,877 Shares of RTX Corporation (NYSE:RTX)

Kovack Advisors Inc. reduced its position in RTX Corporation (NYSE:RTX - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 39,022 shares of the company's stock after selling 2,877 shares during the period. Kovack Advisors Inc.'s holdings in RTX were worth $5,169,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of RTX. MorganRosel Wealth Management LLC acquired a new position in RTX in the first quarter valued at about $26,000. 10Elms LLP bought a new stake in shares of RTX during the fourth quarter worth $29,000. Greenline Partners LLC acquired a new position in shares of RTX during the fourth quarter worth $34,000. Mpwm Advisory Solutions LLC acquired a new position in shares of RTX during the fourth quarter worth $43,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of RTX during the fourth quarter worth $45,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RTX shares. JPMorgan Chase & Co. boosted their target price on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. UBS Group boosted their target price on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research report on Monday, July 21st. Finally, Morgan Stanley raised their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.88.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,530 shares of company stock valued at $3,080,191. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

RTX traded up $1.64 during trading on Friday, reaching $156.86. The stock had a trading volume of 4,727,235 shares, compared to its average volume of 4,909,235. The stock has a market cap of $209.96 billion, a PE ratio of 34.47, a PEG ratio of 2.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a one year low of $112.27 and a one year high of $157.33. The business has a 50-day moving average of $143.48 and a 200-day moving average of $132.81.

RTX (NYSE:RTX - Get Free Report) last issued 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. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the company earned $1.41 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 1.73%. RTX's dividend payout ratio is currently 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.