Obermeyer Wealth Partners lessened its stake in RTX Corporation (NYSE:RTX - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 278,582 shares of the company's stock after selling 5,662 shares during the quarter. RTX comprises about 2.0% of Obermeyer Wealth Partners' holdings, making the stock its 16th largest holding. Obermeyer Wealth Partners' holdings in RTX were worth $36,901,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bay Capital Advisors LLC acquired a new stake in RTX in the first quarter worth $224,000. Dynamic Advisor Solutions LLC raised 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 purchasing an additional 2,686 shares in the last quarter. Deutsche Bank AG raised its stake in shares of RTX by 46.0% during 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 in the last quarter. LBP AM SA raised its stake in shares of RTX by 17.7% in 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 in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company's stock valued at $51,741,000 after acquiring an additional 5,356 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at RTX
In other news, VP Amy L. Johnson sold 4,146 shares of the 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 sale, the vice president 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was 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 $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
RTX Stock Performance
Shares of RTX stock traded up $0.81 on Monday, reaching $152.31. The stock had a trading volume of 625,771 shares, compared to its average volume of 5,255,357. The stock has a market cap of $203.48 billion, a P/E ratio of 44.68, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. RTX Corporation has a 1 year low of $102.62 and a 1 year high of $152.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a 50 day simple moving average of $141.35 and a 200 day simple moving average of $131.70.
RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $19.80 billion. Equities research analysts expect that RTX Corporation will post 6.11 EPS for the current year.
RTX Dividend Announcement
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 annualized dividend and a yield of 1.79%. RTX's payout ratio is currently 79.77%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on RTX shares. Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research report on Friday, April 25th. Sanford C. Bernstein set a $154.00 target price on RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Royal Bank Of Canada cut their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. Six equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.28.
Check Out Our Latest Report on RTX
RTX Company Profile
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Free Report)
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.
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