Nicholas Hoffman & Company LLC. Has $1.85 Million Position in RTX Corporation (NYSE:RTX)

Key Points

• Nicholas Hoffman & Company LLC reduced its holdings in RTX Corporation by 12.7% in Q1, owning 13,982 shares valued at approximately $1.85 million after selling 2,031 shares.
• RTX reported earnings of $1.56 per share for Q2, surpassing estimates, with revenue of $21.58 billion, a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $0.68 per share, resulting in an annualized yield of 1.7%, with a payout ratio of 59.78%.

Nicholas Hoffman & Company LLC. cut its holdings in RTX Corporation (NYSE:RTX - Free Report) by 12.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,982 shares of the company's stock after selling 2,031 shares during the quarter. Nicholas Hoffman & Company LLC.'s holdings in RTX were worth $1,852,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC boosted its position in RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after acquiring an additional 159 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of RTX by 2.7% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,876 shares of the company's stock valued at $1,143,000 after acquiring an additional 258 shares during the period. Titleist Asset Management LLC lifted its stake in shares of RTX by 37.0% during the fourth quarter. Titleist Asset Management LLC now owns 2,687 shares of the company's stock valued at $311,000 after acquiring an additional 726 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in RTX by 22.4% in the fourth quarter. Federated Hermes Inc. now owns 225,633 shares of the company's stock valued at $26,110,000 after acquiring an additional 41,250 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Down 0.7%

RTX stock opened at $156.23 on Wednesday. The company has a market cap of $209.12 billion, a price-to-earnings ratio of 34.34, a P/E/G ratio of 2.90 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 business has a 50 day moving average price of $146.63 and a two-hundred day moving average price of $134.81. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last issued its 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 business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period last year, the business posted $1.41 EPS. RTX's revenue was up 9.4% on a year-over-year basis. Analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

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

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,088 shares of company stock valued at $3,910,975. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a report on Friday, July 11th. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Wells Fargo & Company raised their price objective on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, The Goldman Sachs Group increased their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

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.

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