RTX Co. (NYSE:RTX) Position Cut by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in RTX Co. (NYSE:RTX - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 879,105 shares of the company's stock after selling 24,511 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.07% of RTX worth $116,446,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. National Pension Service lifted its stake in RTX by 15.1% in the fourth quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after buying an additional 375,781 shares during the last quarter. Deutsche Bank AG lifted its stake in RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after buying an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of RTX during the fourth quarter valued at about $3,356,000. Thoroughbred Financial Services LLC raised its stake in shares of RTX by 43.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company's stock valued at $3,046,000 after purchasing an additional 7,987 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. raised its stake in shares of RTX by 188.6% during the fourth quarter. Teewinot Capital Advisers L.L.C. now owns 605,150 shares of the company's stock valued at $70,028,000 after purchasing an additional 395,434 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RTX shares. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. UBS Group lifted their price objective on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $159.82.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

Shares of RTX stock opened at $145.47 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company's 50-day moving average price is $131.41 and its two-hundred day moving average price is $126.58. RTX Co. has a 52 week low of $99.07 and a 52 week high of $149.10. The stock has a market cap of $194.34 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.87%. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

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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