Perigon Wealth Management LLC Sells 6,777 Shares of RTX Corporation (NYSE:RTX)

Perigon Wealth Management LLC reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,500 shares of the company's stock after selling 6,777 shares during the period. Perigon Wealth Management LLC's holdings in RTX were worth $8,809,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management grew its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in shares of RTX during the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX during the 4th quarter valued at $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RTX shares. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Susquehanna dropped their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 28th. UBS Group lifted their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Four equities 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. Based on data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average price target of $161.12.

RTX Price Performance

RTX stock opened at $141.29 on Thursday. The firm's 50-day moving average price is $134.28 and its two-hundred day moving average price is $127.93. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26. The stock has a market capitalization of $188.76 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 2.56 and a beta of 0.63. 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 data 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. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.93%. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the firm'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 now owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 now owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

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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