Xcel Wealth Management LLC Sells 13,425 Shares of RTX Corporation (NYSE:RTX)

Xcel Wealth Management LLC reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 58.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,605 shares of the company's stock after selling 13,425 shares during the period. Xcel Wealth Management LLC's holdings in RTX were worth $1,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in shares of RTX in the 1st quarter worth approximately $26,000. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC purchased a new stake in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its stake in shares of 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 purchasing an additional 265 shares during the period. Finally, Greenline Partners LLC bought a new position in RTX during the fourth quarter valued at about $34,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RTX. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 23rd. Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Wells Fargo & Company increased their price target on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Finally, Susquehanna reduced their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Four research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

RTX Price Performance

RTX traded up $1.28 during midday trading on Friday, hitting $145.80. The stock had a trading volume of 1,888,713 shares, compared to its average volume of 5,348,312. RTX Corporation has a 1 year low of $99.42 and a 1 year high of $149.26. 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 business has a fifty day moving average of $136.83 and a 200 day moving average of $129.07. The company has a market cap of $194.78 billion, a P/E ratio of 42.76, a price-to-earnings-growth 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.87%. RTX's dividend payout ratio is currently 79.77%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of RTX 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 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 disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

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.