Diversify Wealth Management LLC Cuts Stock Holdings in RTX Corporation (NYSE:RTX)

Diversify Wealth Management LLC lowered its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 8.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,071 shares of the company's stock after selling 3,245 shares during the quarter. Diversify Wealth Management LLC's holdings in RTX were worth $4,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after purchasing an additional 159 shares during the period. Proficio Capital Partners LLC increased its holdings in RTX by 65.5% during the fourth quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company's stock valued at $1,043,000 after buying an additional 3,568 shares during the last quarter. PFG Advisors increased its holdings in RTX by 1.1% during the fourth quarter. PFG Advisors now owns 17,083 shares of the company's stock valued at $1,977,000 after buying an additional 179 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in RTX by 12.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 12,995 shares of the company's stock valued at $1,504,000 after buying an additional 1,453 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RTX. UBS Group increased their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Citigroup increased their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday. The Goldman Sachs Group increased their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada cut their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $163.12.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

RTX Trading Up 1.8%

Shares of NYSE:RTX traded up $2.60 during trading on Monday, reaching $149.47. The company's stock had a trading volume of 4,451,451 shares, compared to its average volume of 5,280,184. 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 Corporation has a 12 month low of $101.52 and a 12 month high of $149.90. The firm's 50 day simple moving average is $139.16 and its two-hundred day simple moving average is $130.49. The stock has a market capitalization of $199.68 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64.

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

RTX Announces Dividend

The company also recently announced 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 1.82%. RTX's dividend payout ratio (DPR) is presently 79.77%.

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.