Linscomb Wealth Inc. Cuts Stake in RTX Corporation (NYSE:RTX)

Key Points

• Linscomb Wealth Inc. reduced its stake in RTX Corporation by 1.5%, now holding 105,294 shares valued at approximately $13.9 million, making it the 19th largest position in their portfolio.
• Notable institutional investors like Vanguard Group and T. Rowe Price increased their stakes in RTX, with Vanguard owning over 119 million shares worth about $15.9 billion.
• RTX declared a quarterly dividend of $0.68 per share, reflecting an annualized dividend yield of 1.8%, with a payout ratio of 59.78%.

Linscomb Wealth Inc. cut its stake in RTX Corporation (NYSE:RTX - Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,294 shares of the company's stock after selling 1,629 shares during the quarter. RTX comprises about 0.7% of Linscomb Wealth Inc.'s investment portfolio, making the stock its 19th biggest position. Linscomb Wealth Inc.'s holdings in RTX were worth $13,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares in the last quarter. Northern Trust Corp grew its stake in shares of RTX by 8.4% during the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after acquiring an additional 997,806 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in RTX by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after purchasing an additional 104,139 shares in the last quarter. Finally, Invesco Ltd. grew its stake in RTX by 1.5% in the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after purchasing an additional 154,544 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business'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 owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Bank of America lifted their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Barclays lifted their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley lifted their price target on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Six 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Stock Performance

RTX opened at $154.98 on Friday. The business's 50 day moving average is $147.87 and its 200-day moving average is $135.46. The stock has a market cap of $207.45 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.85 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating 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 quarter in the previous year, the company posted $1.41 earnings per share. On average, analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued 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%.

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.

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