Osborne Partners Capital Management LLC Sells 3,237 Shares of RTX Corporation (NYSE:RTX)

Osborne Partners Capital Management LLC cut its stake in RTX Corporation (NYSE:RTX - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,768 shares of the company's stock after selling 3,237 shares during the period. Osborne Partners Capital Management LLC's holdings in RTX were worth $8,447,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RTX. 10Elms LLP acquired a new position in shares of RTX during the fourth quarter valued at about $29,000. Fairway Wealth LLC acquired a new stake in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management increased its stake in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC acquired a new position in RTX in the 4th quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX in the 4th quarter worth approximately $39,000. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price target on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. UBS Group upped their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $159.82.

Insider Buying and Selling at RTX

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

RTX Trading Down 1.8%

RTX stock opened at $145.81 on Friday. The business has a fifty day moving average of $133.06 and a 200-day moving average of $127.23. The company has a market cap of $194.80 billion, a P/E ratio of 42.76, a PEG ratio of 2.64 and a beta of 0.63. RTX Corporation has a twelve month low of $99.07 and a twelve month high of $149.26. 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 released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, equities research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This is an increase from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. RTX's dividend payout ratio is currently 79.77%.

RTX 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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