Skylands Capital LLC Cuts Stock Position in RTX Corporation (NYSE:RTX)

Skylands Capital LLC lessened its holdings in RTX Corporation (NYSE:RTX - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,315 shares of the company's stock after selling 9,043 shares during the period. Skylands Capital LLC's holdings in RTX were worth $6,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. 10Elms LLP purchased a new position in RTX during the fourth quarter worth about $29,000. Fairway Wealth LLC acquired a new stake in RTX in the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in RTX in the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC acquired a new position in RTX during the fourth quarter worth $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other RTX 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 transaction, the vice president owned 9,546 shares of the company's stock, valued at $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 available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on 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 directly owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RTX. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Susquehanna cut their price target on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Royal Bank Of Canada cut their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, 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. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and a consensus price target of $161.12.

RTX Price Performance

Shares of NYSE RTX traded up $0.32 during midday trading on Wednesday, hitting $144.51. The company had a trading volume of 3,251,568 shares, compared to its average volume of 5,360,931. 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 business has a 50-day simple moving average of $135.87 and a two-hundred day simple moving average of $128.77. RTX Corporation has a twelve month low of $99.07 and a twelve month high of $149.26. The firm has a market capitalization of $193.06 billion, a price-to-earnings ratio of 42.38, a price-to-earnings-growth 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 (EPS) for the quarter, topping 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 firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. Equities research analysts anticipate 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 1.88%. RTX's payout ratio is currently 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.