RTX Corporation (NYSE:RTX) Stock Position Reduced by KBC Group NV

KBC Group NV lowered its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,963 shares of the company's stock after selling 2,805 shares during the quarter. KBC Group NV's holdings in RTX were worth $14,036,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in RTX. LaFleur & Godfrey LLC lifted its stake in shares of RTX by 0.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock valued at $20,620,000 after purchasing an additional 900 shares during the period. Brighton Jones LLC grew its position in shares of RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC increased its position in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after purchasing an additional 159 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in RTX by 30.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 10,630 shares of the company's stock worth $1,225,000 after acquiring an additional 2,455 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in RTX in the 4th quarter worth approximately $152,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president owned 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% 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 corporate insiders.

RTX Stock Up 0.9%

RTX stock traded up $1.28 during mid-day trading on Friday, hitting $145.80. 1,888,713 shares of the company were exchanged, compared to its average volume of 5,348,312. The company has a market capitalization of $194.78 billion, a PE ratio of 42.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.64. RTX Corporation has a twelve month low of $99.42 and a twelve month high of $149.26. The firm has a fifty day simple moving average of $136.83 and a 200 day simple moving average of $129.07. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on RTX shares. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a research report on Wednesday, April 23rd. Citigroup decreased their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Cowen restated a "buy" rating on shares of RTX in a report on Friday, May 23rd. Finally, Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, RTX presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

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.