Stratos Wealth Advisors LLC Cuts Stake in RTX Corporation (NYSE:RTX)

Stratos Wealth Advisors LLC lowered its holdings in RTX Corporation (NYSE:RTX - Free Report) by 25.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,887 shares of the company's stock after selling 3,785 shares during the quarter. Stratos Wealth Advisors LLC's holdings in RTX were worth $1,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RTX. Stratos Investment Management LLC boosted its holdings in RTX by 8.6% during the first quarter. Stratos Investment Management LLC now owns 40,807 shares of the company's stock worth $5,405,000 after buying an additional 3,234 shares in the last quarter. Black Diamond Financial LLC purchased a new stake in RTX during the first quarter worth $399,000. Alpha Cubed Investments LLC boosted its holdings in RTX by 28.7% during the first quarter. Alpha Cubed Investments LLC now owns 19,508 shares of the company's stock worth $2,584,000 after buying an additional 4,351 shares in the last quarter. Family Capital Management Inc. purchased a new stake in RTX during the first quarter worth $242,000. Finally, Planning Directions Inc. purchased a new stake in RTX during the first quarter worth $449,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. Citigroup decreased their price target on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company raised their price target on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada decreased their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $161.12.

RTX Stock Up 1.0%

RTX stock traded up $1.49 during trading on Wednesday, reaching $146.40. The stock had a trading volume of 2,663,751 shares, compared to its average volume of 5,313,603. RTX Corporation has a 52-week low of $99.42 and a 52-week high of $149.26. The business has a 50 day moving average price of $138.04 and a 200 day moving average price of $129.77. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market cap of $195.58 billion, a PE ratio of 42.93, a P/E/G ratio of 2.64 and a beta of 0.64.

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

RTX Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.86%. RTX's payout ratio is 79.77%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were 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 directly 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 disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

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.