Solidarity Wealth LLC Sells 12,855 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Solidarity Wealth LLC reduced its holdings in RTX Corporation by 17.6%, selling 12,855 shares and now holding 60,372 shares total, which are valued at approximately $7.99 million.
• Several institutional investors have recently acquired new stakes in RTX, increasing institutional ownership to 86.50% of the company’s stock.
• The company announced a quarterly dividend of $0.68, with a yield of 1.73%, to be paid on September 4th to investors of record by August 15th.

Solidarity Wealth LLC trimmed its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 17.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,372 shares of the company's stock after selling 12,855 shares during the period. RTX accounts for about 2.0% of Solidarity Wealth LLC's investment portfolio, making the stock its 16th biggest holding. Solidarity Wealth LLC's holdings in RTX were worth $7,997,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Guardian Wealth Advisors LLC NC raised its stake in RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after buying an additional 82 shares during the period. Foster Victor Wealth Advisors LLC raised its holdings in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after buying an additional 82 shares during the last quarter. Weatherly Asset Management L. P. grew 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 buying an additional 82 shares during the last quarter. CLG LLC increased its position in shares of RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after acquiring an additional 83 shares in the last quarter. Finally, 49 Wealth Management LLC raised its holdings in shares of RTX by 3.3% in the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock worth $302,000 after acquiring an additional 84 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RTX has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Barclays increased their price objective on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group raised their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six investment 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Stock Down 0.5%

NYSE RTX traded down $0.82 during trading hours on Thursday, reaching $157.58. 2,313,504 shares of the company's stock traded hands, compared to its average volume of 5,387,045. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm has a 50-day simple moving average of $144.73 and a 200 day simple moving average of $133.67. The firm has a market cap of $210.92 billion, a PE ratio of 34.62, a PEG ratio of 2.89 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data 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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the company earned $1.41 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

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

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president owned 30,004 shares in the company, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,234 shares of company stock valued at $4,439,755. Company 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.