Souders Financial Advisors Sells 7,362 Shares of RTX Corporation (NYSE:RTX)

Souders Financial Advisors cut its position in RTX Corporation (NYSE:RTX - Free Report) by 22.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,386 shares of the company's stock after selling 7,362 shares during the quarter. Souders Financial Advisors' holdings in RTX were worth $3,363,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in RTX in the fourth quarter valued at $1,745,644,000. GAMMA Investing LLC increased its holdings in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Invesco Ltd. lifted its holdings in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after buying an additional 1,522,251 shares during the period. Finally, Vanguard Group Inc. grew its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock worth $13,710,408,000 after purchasing an additional 1,252,448 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of research reports. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the stock a "market perform" rating in a report on Friday, July 11th. Wells Fargo & Company upped their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Royal Bank Of Canada cut their target price on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. Finally, UBS Group lifted their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $164.28.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company'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 directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents 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 Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were 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 of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

RTX traded down $2.32 during trading hours on Tuesday, hitting $149.24. The stock had a trading volume of 7,661,340 shares, compared to its average volume of 5,291,426. The company's fifty day simple moving average is $141.35 and its 200 day simple moving average is $131.70. RTX Corporation has a 1 year low of $102.62 and a 1 year high of $153.39. The stock has a market cap of $199.37 billion, a PE ratio of 43.82, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 dividend yield of 1.82%. RTX's dividend payout ratio (DPR) is presently 79.77%.

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.