RTX Corporation (NYSE:RTX) Shares Sold by Ridgewood Investments LLC

Key Points

• Ridgewood Investments LLC reduced its stake in RTX Corporation by 30% in the first quarter, selling 3,140 shares, bringing its total holding to 7,338 shares valued at $954,000.
• RTX reported a quarterly earnings per share (EPS) of $1.56, exceeding estimates and achieving a 9.4% year-over-year revenue increase to $21.58 billion.
• The company declared a quarterly dividend of $0.68 per share, yielding 1.73% annually, with a dividend payout ratio of 59.78%.

Ridgewood Investments LLC trimmed its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,338 shares of the company's stock after selling 3,140 shares during the period. Ridgewood Investments LLC's holdings in RTX were worth $954,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Advisors LLC NC raised its position in RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after purchasing an additional 82 shares during the period. Foster Victor Wealth Advisors LLC raised its position in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after purchasing an additional 82 shares during the period. Weatherly Asset Management L. P. raised its position in RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after purchasing an additional 82 shares during the period. CLG LLC raised its position in RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after purchasing an additional 83 shares during the period. Finally, 49 Wealth Management LLC raised its position in RTX by 3.3% during the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after purchasing an additional 84 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,234 shares of company stock worth $4,439,755. Insiders own 0.15% of the company's stock.

RTX Stock Down 0.4%

NYSE RTX traded down $0.66 during midday trading on Thursday, hitting $157.74. 2,411,625 shares of the company traded hands, compared to its average volume of 5,388,639. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79. The company's 50-day simple moving average is $144.73 and its 200-day simple moving average is $133.67. 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 company has a market cap of $211.15 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. As a group, equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 yield of 1.72%. RTX's dividend payout ratio (DPR) is 59.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RTX shares. Susquehanna upped their target price 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. upped their target price on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Finally, Barclays upped their target price on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.