Tufton Capital Management Cuts Stock Position in RTX Corporation (NYSE:RTX)

Tufton Capital Management decreased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 14.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,407 shares of the company's stock after selling 12,593 shares during the quarter. RTX accounts for approximately 1.9% of Tufton Capital Management's holdings, making the stock its 15th biggest position. Tufton Capital Management's holdings in RTX were worth $9,988,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RTX. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $26,000. 10Elms LLP purchased a new stake in RTX in the 4th quarter worth approximately $29,000. Greenline Partners LLC purchased a new stake in RTX in the 4th quarter worth approximately $34,000. Mpwm Advisory Solutions LLC purchased a new stake in RTX in the 4th quarter worth approximately $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in RTX in the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX 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 sale, the executive vice president owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,530 shares of company stock valued at $3,080,191 over the last quarter. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RTX shares. Susquehanna increased their target price on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a report on Wednesday. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued 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 $154.88.

RTX Stock Up 1.1%

RTX stock traded up $1.64 during trading on Friday, reaching $156.86. 4,727,235 shares of the company traded hands, compared to its average volume of 4,909,235. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $157.33. The business has a 50 day simple moving average of $143.48 and a 200 day simple moving average of $132.93. The company has a market capitalization of $209.96 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. On average, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.73%. RTX's dividend payout ratio (DPR) is 59.78%.

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.