Phraction Management LLC Decreases Stake in RTX Corporation (NYSE:RTX)

Phraction Management LLC reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,393 shares of the company's stock after selling 6,100 shares during the period. RTX comprises about 4.2% of Phraction Management LLC's investment portfolio, making the stock its 7th largest holding. Phraction Management LLC's holdings in RTX were worth $12,503,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RTX. Norges Bank acquired a new position in RTX during the fourth quarter valued at approximately $1,745,644,000. GAMMA Investing LLC boosted its position 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 purchasing an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in RTX by 43.1% in 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. Amundi raised its stake in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after buying an additional 2,854,928 shares during the period. Finally, Invesco Ltd. raised its stake in RTX by 17.6% in 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. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on RTX. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Royal Bank Of Canada dropped their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Four investment 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 company. Based on data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and an average price target of $161.12.

RTX Stock Performance

Shares of RTX traded up $1.28 on Thursday, reaching $145.80. 1,888,713 shares of the company's stock traded hands, compared to its average volume of 5,348,312. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock's 50 day simple moving average is $136.83 and its two-hundred day simple moving average is $129.07. RTX Corporation has a 52-week low of $99.42 and a 52-week high of $149.26. The stock has a market cap of $194.78 billion, a PE ratio of 42.76, a PEG ratio of 2.61 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last posted 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. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. RTX's dividend payout ratio is currently 79.77%.

Insider Activity

In related news, 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 sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction 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 sale, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

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.