Independent Advisor Alliance Cuts Holdings in RTX Corporation (NYSE:RTX)

Key Points

• Independent Advisor Alliance reduced its holdings in RTX Corporation by 9.8%, owning 44,730 shares valued at approximately $5.93 million after selling 4,835 shares in the first quarter.
• RTX reported an earnings per share (EPS) of $1.56 for the last quarter, exceeding analysts' expectations, and recorded a year-over-year revenue increase of 9.4% to $21.58 billion.
• The company announced a quarterly dividend of $0.68 per share, resulting in an annualized dividend amount of $2.72 and a dividend yield of 1.8%, with a payout ratio of 59.78%.

Independent Advisor Alliance lessened its position in RTX Corporation (NYSE:RTX - Free Report) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,730 shares of the company's stock after selling 4,835 shares during the period. Independent Advisor Alliance's holdings in RTX were worth $5,925,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Advisors LLC NC grew its position in RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after buying an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its position in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after buying an additional 82 shares in the last quarter. Weatherly Asset Management L. P. lifted its stake in RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after purchasing an additional 82 shares during the last quarter. CLG LLC lifted its stake in RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after purchasing an additional 83 shares during the last quarter. Finally, Lcnb Corp lifted its stake in RTX by 1.2% during the first quarter. Lcnb Corp now owns 7,117 shares of the company's stock worth $943,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm'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 transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction that occurred 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 directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,589 shares of company stock worth $7,126,389 over the last quarter. 0.15% of the stock is currently owned by company insiders.

RTX Stock Down 0.3%

Shares of NYSE:RTX traded down $0.46 during trading on Thursday, hitting $155.25. The stock had a trading volume of 2,765,935 shares, compared to its average volume of 5,317,897. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79. The company has a market capitalization of $207.81 billion, a PE ratio of 34.12, a PEG ratio of 2.86 and a beta of 0.69. The firm's fifty day moving average is $148.92 and its 200 day moving average is $136.01. 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 (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The business's revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business 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 dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley lifted their price target on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Bank of America lifted their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $158.67.

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.