RTX Corporation (NYSE:RTX) Position Trimmed by Patrick Mauro Investment Advisor INC.

Patrick Mauro Investment Advisor INC. lowered its stake in RTX Corporation (NYSE:RTX - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,713 shares of the company's stock after selling 2,963 shares during the period. RTX makes up approximately 2.4% of Patrick Mauro Investment Advisor INC.'s portfolio, making the stock its 19th biggest holding. Patrick Mauro Investment Advisor INC.'s holdings in RTX were worth $4,466,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RTX. Vanguard Group Inc. increased its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after buying an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares during the period. Franklin Resources Inc. increased its stake in RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after purchasing an additional 603,159 shares in the last quarter. Norges Bank acquired a new position in RTX during the fourth quarter worth $1,745,644,000. Finally, Northern Trust Corp boosted its position in RTX by 8.4% during the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after purchasing an additional 997,806 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Trading Down 0.3%

Shares of NYSE:RTX traded down $0.40 during trading on Tuesday, reaching $148.88. 4,529,582 shares of the stock were exchanged, compared to its average volume of 5,142,460. RTX Corporation has a 12-month low of $101.75 and a 12-month high of $150.62. The firm's 50-day moving average price is $139.16 and its 200 day moving average price is $130.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market cap of $198.90 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, sell-side analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.83%. RTX's dividend payout ratio (DPR) is currently 79.77%.

Analyst Ratings Changes

Several research firms have weighed in on RTX. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a research report on Friday. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.61.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction that occurred on 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 owned 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction on 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 directly owned 16,538 shares in the company, 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. Company insiders own 0.15% of the company's stock.

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.