New Century Financial Group LLC Sells 8,797 Shares of RTX Co. (NYSE:RTX)

New Century Financial Group LLC decreased its holdings in RTX Co. (NYSE:RTX - Free Report) by 83.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,695 shares of the company's stock after selling 8,797 shares during the quarter. New Century Financial Group LLC's holdings in RTX were worth $225,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. 10Elms LLP acquired a new stake in RTX in the fourth quarter valued at $29,000. Fairway Wealth LLC acquired a new stake in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new stake in RTX in the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC acquired a new stake in RTX in the fourth quarter valued at $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RTX. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $159.82.

RTX Stock Up 3.2%

Shares of RTX stock traded up $4.49 during trading hours on Friday, hitting $145.47. 11,752,057 shares of the company were exchanged, compared to its average volume of 5,400,534. The business has a 50 day moving average of $131.41 and a two-hundred day moving average of $126.54. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $99.07 and a 52 week high of $146.02. The company has a market capitalization of $194.34 billion, a PE ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Analysts anticipate that RTX Co. will post 6.11 earnings per share 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 issued a dividend of $0.68 per share. 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 dividend yield of 1.87%. RTX's payout ratio is 79.77%.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

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.