Azimuth Capital Investment Management LLC Sells 3,423 Shares of RTX Corporation $RTX

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in RTX Corporation by 6.3%, selling 3,423 shares and leaving them with 50,752 shares valued at $6.72 million.
• RTX recently announced a quarterly dividend of $0.68, scheduled to be paid on September 4th, which translates to an annualized yield of 1.8%.
• The company reported an EPS of $1.56 for the last quarter, exceeding analyst expectations by 11 cents, and accrued a revenue of $21.58 billion.

Azimuth Capital Investment Management LLC lowered its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,752 shares of the company's stock after selling 3,423 shares during the period. Azimuth Capital Investment Management LLC's holdings in RTX were worth $6,723,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after acquiring an additional 997,806 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of RTX by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after acquiring an additional 104,139 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of RTX by 1.5% in the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after acquiring an additional 154,544 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on RTX shares. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research note on Monday, July 21st. Finally, UBS Group lifted their target price on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Transactions at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. The trade was a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,589 shares of company stock worth $7,126,389. 0.15% of the stock is owned by insiders.

RTX Stock Down 0.7%

Shares of NYSE:RTX traded down $1.04 during midday trading on Friday, reaching $154.04. The company's stock had a trading volume of 4,593,662 shares, compared to its average volume of 4,921,509. The firm has a 50 day moving average of $149.54 and a 200-day moving average of $136.53. The firm has a market capitalization of $206.19 billion, a P/E ratio of 33.85, a PEG ratio of 2.84 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. On average, research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX's dividend payout ratio is presently 59.78%.

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.