Somerville Kurt F Decreases Position in RTX Corporation (NYSE:RTX)

Somerville Kurt F decreased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,743 shares of the company's stock after selling 4,329 shares during the period. RTX makes up approximately 2.1% of Somerville Kurt F's investment portfolio, making the stock its 22nd largest position. Somerville Kurt F's holdings in RTX were worth $12,285,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RTX. MorganRosel Wealth Management LLC purchased a new position in RTX in the 1st quarter valued at approximately $26,000. 10Elms LLP acquired a new position in shares of RTX during the fourth quarter worth about $29,000. Greenline Partners LLC acquired a new position in shares of RTX during the fourth quarter worth about $34,000. Millstone Evans Group LLC acquired a new position in shares of RTX during the fourth quarter worth about $39,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of RTX during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RTX. Morgan Stanley upped their price target on shares of RTX from $135.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Susquehanna reduced their price objective 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. Citigroup increased their price target on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. dropped their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.28.

RTX Stock Performance

RTX stock traded down $2.87 during mid-day trading on Tuesday, hitting $148.69. 5,811,197 shares of the company's stock traded hands, compared to its average volume of 5,283,268. 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 stock has a market cap of $198.64 billion, a price-to-earnings ratio of 43.65, a P/E/G ratio of 2.82 and a beta of 0.64. The firm has a 50 day simple moving average of $141.35 and a two-hundred day simple moving average of $131.70. RTX Corporation has a fifty-two week low of $102.62 and a fifty-two week high of $153.39.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. RTX's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, research analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business 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 1.83%. RTX's dividend payout ratio (DPR) is presently 79.77%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated 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 directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president owned 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% 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.

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.

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