Moloney Securities Asset Management LLC Lowers Stake in RTX Corporation (NYSE:RTX)

Moloney Securities Asset Management LLC lessened its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 16.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,705 shares of the company's stock after selling 2,093 shares during the period. Moloney Securities Asset Management LLC's holdings in RTX were worth $1,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MorganRosel Wealth Management LLC acquired a new position in RTX during the first quarter worth approximately $26,000. 10Elms LLP acquired a new position in RTX during the fourth quarter worth approximately $29,000. Picton Mahoney Asset Management increased its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC acquired a new position in RTX during the fourth quarter worth approximately $34,000. Finally, Millstone Evans Group LLC acquired a new position in RTX during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company's 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 directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were 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 owned 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Price Performance

Shares of NYSE RTX traded up $0.29 during trading on Thursday, reaching $146.47. The company had a trading volume of 4,130,468 shares, compared to its average volume of 5,302,859. RTX Corporation has a twelve month low of $100.22 and a twelve month high of $149.26. The stock has a market capitalization of $195.67 billion, a PE ratio of 42.95, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. The stock has a 50-day moving average price of $138.45 and a two-hundred day moving average price of $129.89. 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 quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. As a group, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.86%. RTX's payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RTX shares. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. The Goldman Sachs Group lifted their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Morgan Stanley upgraded 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. Finally, Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, RTX currently has an average rating of "Moderate Buy" and an average price target of $161.12.

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.