MGO One Seven LLC Reduces Holdings in RTX Corporation (NYSE:RTX)

Key Points

• MGO One Seven LLC has reduced its holdings in RTX Corporation by 7.7%, resulting in ownership of 25,066 shares valued at approximately $3.32 million as of the latest filing.
• Several hedge funds have reportedly added to their positions in RTX, reflecting strong institutional interest with 86.5% of the stock currently owned by hedge funds and other institutional investors.
• RTX announced a quarterly dividend of $0.68 per share, set to be paid on September 4th, representing an annualized dividend yield of 1.7%.

MGO One Seven LLC reduced its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,066 shares of the company's stock after selling 2,093 shares during the quarter. MGO One Seven LLC's holdings in RTX were worth $3,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX during the first quarter worth about $26,000. 10Elms LLP purchased a new stake in shares of RTX during the fourth quarter worth about $29,000. Greenline Partners LLC purchased a new stake in shares of RTX during the fourth quarter worth about $34,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX during the fourth quarter worth about $43,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of RTX during the fourth quarter worth about $45,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Barclays boosted their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday. Morgan Stanley boosted their target price on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Finally, Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Six investment 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $158.67.

RTX Trading Down 0.6%

RTX opened at $157.51 on Friday. The stock has a market capitalization of $210.83 billion, a PE ratio of 34.62, a P/E/G ratio of 2.92 and a beta of 0.64. The firm's fifty day moving average price is $145.20 and its 200 day moving average price is $133.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's payout ratio is 59.78%.

Insider Buying and Selling at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president owned 13,184 shares of the company's stock, 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. Insiders have sold 31,234 shares of company stock worth $4,439,755 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

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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