RTX Co. (NYSE:RTX) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its stake in RTX Co. (NYSE:RTX - Free Report) by 8.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187,633 shares of the company's stock after selling 16,925 shares during the period. Meyer Handelman Co.'s holdings in RTX were worth $24,854,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RTX. National Pension Service lifted its stake in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock worth $330,910,000 after acquiring an additional 375,781 shares during the last quarter. Deutsche Bank AG grew its stake in RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after acquiring an additional 936,953 shares in the last quarter. Archer Investment Corp increased its position in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company's stock worth $610,000 after acquiring an additional 4,151 shares during the period. Optas LLC boosted its holdings in shares of RTX by 114.5% in the fourth quarter. Optas LLC now owns 7,062 shares of the company's stock valued at $817,000 after purchasing an additional 3,770 shares during the period. Finally, Thoroughbred Financial Services LLC grew its stake in RTX by 43.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock worth $3,046,000 after purchasing an additional 7,987 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

Shares of NYSE RTX traded up $1.01 during trading on Monday, reaching $137.49. 3,944,836 shares of the company traded hands, compared to its average volume of 5,381,602. The firm's fifty day simple moving average is $129.09 and its 200 day simple moving average is $125.17. The stock has a market cap of $183.68 billion, a P/E ratio of 38.73, a PEG ratio of 2.11 and a beta of 0.60. RTX Co. has a 12-month low of $99.07 and a 12-month high of $138.82. 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 released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, research analysts anticipate 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. Investors of record on Friday, May 23rd will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is currently 79.77%.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of RTX 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 completion of the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research reports. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. UBS Group increased their target price on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada reduced their price target on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $159.82.

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.