Pettyjohn Wood & White Inc. Sells 2,854 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Pettyjohn Wood & White Inc. has decreased its stake in RTX Corporation by 4.4%, selling 2,854 shares and retaining 62,573 shares, valued at approximately $8.29 million.
• RTX recently reported earnings of $1.56 per share, surpassing analysts' estimates, with quarterly revenue increasing by 9.4% year-over-year to $21.58 billion.
• The company declared a quarterly dividend of $0.68 per share, which is set to be paid on September 4th, resulting in an annualized yield of 1.7%.

Pettyjohn Wood & White Inc. reduced its stake in RTX Corporation (NYSE:RTX - Free Report) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,573 shares of the company's stock after selling 2,854 shares during the period. RTX makes up about 1.6% of Pettyjohn Wood & White Inc.'s holdings, making the stock its 18th largest holding. Pettyjohn Wood & White Inc.'s holdings in RTX were worth $8,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after buying an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after buying an additional 3,164,844 shares during the period. Invesco Ltd. boosted its stake in RTX by 17.6% during the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after buying an additional 1,522,251 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in RTX during the fourth quarter valued at $138,585,000. Finally, AQR Capital Management LLC boosted its stake in RTX by 181.4% during the fourth quarter. AQR Capital Management LLC now owns 1,569,733 shares of the company's stock valued at $181,571,000 after buying an additional 1,011,816 shares during the period. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares in the company, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,234 shares of company stock worth $4,439,755 in the last quarter. 0.15% of the stock is currently owned by company insiders.

RTX Stock Down 0.6%

Shares of NYSE:RTX opened at $157.51 on Friday. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The company has a market cap of $210.83 billion, a PE ratio of 34.62, a P/E/G ratio of 2.92 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock's 50-day moving average is $145.20 and its 200 day moving average is $133.94.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the previous year, the business earned $1.41 EPS. RTX's revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio is presently 59.78%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RTX. Susquehanna lifted their price objective on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price target on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Bank of America raised their price target on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

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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