SlateStone Wealth LLC Has $10.56 Million Stock Holdings in RTX Corporation (NYSE:RTX)

Key Points

• SlateStone Wealth LLC reduced its stake in RTX Corporation by 7.2%, ending up with 79,722 shares valued at approximately $10.56 million.
• RTX recently announced a quarterly dividend of $0.68 per share, which will be paid to shareholders on September 4th.
• Analysts have mixed ratings on RTX, with the consensus being a Moderate Buy and an average target price of $157.13 for the stock.

SlateStone Wealth LLC decreased its stake in RTX Corporation (NYSE:RTX - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,722 shares of the company's stock after selling 6,182 shares during the period. SlateStone Wealth LLC's holdings in RTX were worth $10,560,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Guardian Wealth Advisors LLC NC boosted its holdings in shares of RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock valued at $576,000 after acquiring an additional 82 shares during the period. Foster Victor Wealth Advisors LLC boosted its holdings in shares of RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after acquiring an additional 82 shares during the period. Weatherly Asset Management L. P. boosted its holdings in shares of RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after acquiring an additional 82 shares during the period. CLG LLC boosted its holdings in shares of RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after acquiring an additional 83 shares during the period. Finally, 49 Wealth Management LLC boosted its holdings in shares of RTX by 3.3% during the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,234 shares of company stock valued at $4,439,755. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

NYSE RTX traded down $0.89 on Thursday, reaching $157.51. The company's stock had a trading volume of 4,788,798 shares, compared to its average volume of 4,604,508. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. 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 stock has a market cap of $210.83 billion, a PE ratio of 34.62, a PEG ratio of 2.92 and a beta of 0.64. The firm's 50 day moving average is $145.20 and its two-hundred day moving average is $133.94.

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, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 EPS. As a group, sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's payout ratio is 59.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RTX shares. JPMorgan Chase & Co. boosted their price target on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Barclays boosted their price target on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. Finally, Citigroup upped their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Six research analysts have rated the stock with a hold rating, thirteen 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 stock has a consensus rating of "Moderate Buy" and an average target price of $158.67.

About RTX

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.