Brandywine Oak Private Wealth LLC Sells 1,720 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Brandywine Oak Private Wealth LLC has reduced its stake in RTX Corporation by 23.7%, owning 5,525 shares valued at $732,000 after selling 1,720 shares in the first quarter.
• RTX reported a profit of $1.56 per share for the most recent quarter, exceeding analysts' expectations, and revenue increased by 9.4% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, resulting in an annual yield of 1.73%, with a payout ratio of 59.78%.

Brandywine Oak Private Wealth LLC decreased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,525 shares of the company's stock after selling 1,720 shares during the quarter. Brandywine Oak Private Wealth LLC's holdings in RTX were worth $732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bay Capital Advisors LLC bought a new position in shares of RTX in the first quarter valued at approximately $224,000. Dynamic Advisor Solutions LLC grew its stake in shares of RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after acquiring an additional 2,686 shares during the period. Deutsche Bank AG boosted its stake in RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after purchasing an additional 936,953 shares during the period. Brookwood Investment Group LLC bought a new position in RTX in the 1st quarter worth about $1,288,000. Finally, LBP AM SA boosted its position in shares of RTX by 17.7% during the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after acquiring an additional 41,990 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RTX shares. Susquehanna raised their price objective on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup upped their price target on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Finally, Bank of America upped their price target on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $155.69.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on 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 in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,234 shares of company stock worth $4,439,755 over the last three months. 0.15% of the stock is owned by corporate insiders.

RTX Stock Down 0.5%

Shares of NYSE RTX traded down $0.82 during mid-day trading on Monday, hitting $156.06. 4,022,106 shares of the stock traded hands, compared to its average volume of 4,686,952. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $157.33. The company has a market cap of $208.89 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 2.89 and a beta of 0.64. The stock has a fifty day moving average price of $143.86 and a 200-day moving average price of $133.33.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.74%. RTX's payout ratio is 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.