LS Investment Advisors LLC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

LS Investment Advisors LLC reduced its position in shares of RTX Co. (NYSE:RTX - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,032 shares of the company's stock after selling 4,676 shares during the period. RTX accounts for approximately 1.6% of LS Investment Advisors LLC's portfolio, making the stock its 23rd largest position. LS Investment Advisors LLC's holdings in RTX were worth $10,601,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. 1620 Investment Advisors Inc. increased its position in shares of RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares in the last quarter. Fusion Capital LLC boosted its stake in RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after purchasing an additional 80 shares during the last quarter. McDonough Capital Management Inc boosted its stake in RTX by 1.6% during the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after purchasing an additional 80 shares during the last quarter. New England Professional Planning Group Inc. grew its holdings in shares of RTX by 3.8% during the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock worth $253,000 after buying an additional 81 shares in the last quarter. Finally, Pointe Capital Management LLC raised its position in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after buying an additional 81 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Trading Up 0.1%

RTX traded up $0.14 during mid-day trading on Friday, hitting $139.21. 4,509,961 shares of the stock were exchanged, compared to its average volume of 5,350,891. The firm's fifty day moving average is $129.50 and its two-hundred day moving average is $125.61. RTX Co. has a 1-year low of $99.07 and a 1-year high of $140.62. The company has a market cap of $185.98 billion, a PE ratio of 39.21, a PEG ratio of 2.11 and a beta of 0.60. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent research reports. Susquehanna cut their target price on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research note on Wednesday, April 23rd. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $159.82.

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.