Lockheed Martin Investment Management Co. Has $11.62 Million Holdings in RTX Corporation (NYSE:RTX)

Key Points

• Lockheed Martin Investment Management Co. has reduced its stake in RTX Corporation by 2.3%, now holding 87,750 shares valued at approximately $11.62 million.
• Various institutional investors have adjusted their stakes in RTX, with Brighton Jones LLC increasing its position by 24.3% in the last quarter.
• RTX recently reported earnings of $1.56 per share, surpassing analysts' expectations, with revenue of $21.58 billion for the quarter, up 9.4% year-over-year.

Lockheed Martin Investment Management Co. decreased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,750 shares of the company's stock after selling 2,070 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in RTX were worth $11,623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Advisors LLC NC lifted its holdings in RTX by 1.7% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after acquiring an additional 82 shares during the period. Foster Victor Wealth Advisors LLC lifted its holdings in RTX by 2.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after acquiring an additional 82 shares during the period. Weatherly Asset Management L. P. lifted its holdings in 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 acquiring an additional 82 shares during the period. CLG LLC lifted its holdings in RTX by 2.3% in the first quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after acquiring an additional 83 shares during the period. Finally, Lcnb Corp lifted its holdings in RTX by 1.2% in the first quarter. Lcnb Corp now owns 7,117 shares of the company's stock valued at $943,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the sale, the insider directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,589 shares of company stock worth $7,126,389 in the last ninety days. Insiders own 0.15% of the company's stock.

RTX Stock Down 0.3%

RTX stock traded down $0.46 during mid-day trading on Thursday, hitting $155.25. 2,766,508 shares of the company were exchanged, compared to its average volume of 5,066,212. The firm has a fifty day simple moving average of $149.25 and a 200 day simple moving average of $136.22. The company has a market capitalization of $207.81 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. 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 (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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter last year, the business posted $1.41 EPS. RTX's quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Analyst Ratings Changes

A number of equities research analysts have commented on RTX shares. Bank of America raised their target price on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 price target (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Susquehanna raised 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. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their price objective on RTX from $145.00 to $175.00 and gave the stock 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 issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

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.