Three Bridge Wealth Advisors LLC Sells 8,312 Shares of RTX Corporation (NYSE:RTX)

Three Bridge Wealth Advisors LLC lessened its stake in RTX Corporation (NYSE:RTX - Free Report) by 42.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,091 shares of the company's stock after selling 8,312 shares during the quarter. Three Bridge Wealth Advisors LLC's holdings in RTX were worth $1,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after buying an additional 1,000,722 shares during the last quarter. Franklin Resources Inc. lifted its stake in RTX by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after acquiring an additional 603,159 shares during the last quarter. Norges Bank acquired a new stake in RTX in the fourth quarter valued at $1,745,644,000. Northern Trust Corp lifted its stake in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after acquiring an additional 997,806 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake 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 acquiring an additional 3,164,844 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Price Performance

Shares of RTX stock traded up $1.64 during midday trading on Friday, hitting $156.86. 4,727,235 shares of the company traded hands, compared to its average volume of 4,909,235. The stock has a market cap of $209.96 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.89 and a beta of 0.64. 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 firm's fifty day moving average price is $143.48 and its 200-day moving average price is $132.93. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $157.33.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. As a group, sell-side analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

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 issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the company'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 transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,530 shares of company stock valued at $3,080,191. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RTX shares. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Bank of America lifted their target price on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Wells Fargo & Company lifted their target price on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Finally, UBS Group raised their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, fourteen 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.88.

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.