Klingenstein Fields & Co. LP Sells 2,713 Shares of RTX Corporation (NYSE:RTX)

Klingenstein Fields & Co. LP trimmed its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,841 shares of the company's stock after selling 2,713 shares during the period. RTX comprises about 1.9% of Klingenstein Fields & Co. LP's holdings, making the stock its 16th biggest holding. Klingenstein Fields & Co. LP's holdings in RTX were worth $43,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC lifted its stake in RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after acquiring an additional 1,000,722 shares in the last quarter. Franklin Resources Inc. lifted its stake in RTX by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock worth $1,922,264,000 after acquiring an additional 603,159 shares in the last quarter. Norges Bank purchased a new stake in RTX in the 4th quarter worth about $1,745,644,000. Finally, Northern Trust Corp lifted its stake in RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after acquiring an additional 997,806 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RTX shares. UBS Group increased their price objective on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group increased their price objective on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $161.12.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 16,538 shares in the company, 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. 0.15% of the stock is owned by insiders.

RTX Stock Performance

RTX traded up $1.24 during midday trading on Thursday, reaching $145.76. The company's stock had a trading volume of 1,064,832 shares, compared to its average volume of 5,332,784. The company has a fifty day simple moving average of $136.35 and a 200 day simple moving average of $128.88. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a twelve month low of $99.42 and a twelve month high of $149.26. The stock has a market cap of $194.72 billion, a P/E ratio of 42.78, a PEG ratio of 2.61 and a beta of 0.64.

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, topping 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 company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Research analysts expect that RTX Corporation will post 6.11 earnings per share for the current 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 paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. RTX's dividend payout ratio (DPR) is presently 79.77%.

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.