Leo Wealth LLC Sells 3,825 Shares of RTX Corporation (NYSE:RTX)

Leo Wealth LLC reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,172 shares of the company's stock after selling 3,825 shares during the period. Leo Wealth LLC's holdings in RTX were worth $1,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MorganRosel Wealth Management LLC bought a new position in RTX in the first quarter valued at about $26,000. 10Elms LLP bought a new position in RTX in the 4th quarter valued at approximately $29,000. Picton Mahoney Asset Management boosted its position in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC bought a new stake in RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX during the 4th quarter worth approximately $39,000. Institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value 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 approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Cowen restated a "buy" rating on shares of RTX in a report on Friday, May 23rd. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Citigroup boosted their price objective on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday. Finally, Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $163.12.

RTX Stock Up 1.8%

RTX traded up $2.60 during trading on Monday, hitting $149.47. 4,451,451 shares of the company's stock were exchanged, compared to its average volume of 5,396,750. 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 fifty-two week low of $101.52 and a fifty-two week high of $149.57. The stock has a market cap of $199.68 billion, a P/E ratio of 43.83, a PEG ratio of 2.73 and a beta of 0.64. The business's 50 day moving average is $139.16 and its two-hundred day moving average is $130.49.

RTX (NYSE:RTX - Get Free Report) last released 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 return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, equities analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a 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.