Townsend & Associates Inc Sells 34,647 Shares of RTX Corporation (NYSE:RTX)

Townsend & Associates Inc cut its stake in RTX Corporation (NYSE:RTX - Free Report) by 19.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,091 shares of the company's stock after selling 34,647 shares during the period. RTX comprises about 1.9% of Townsend & Associates Inc's investment portfolio, making the stock its 17th largest position. Townsend & Associates Inc's holdings in RTX were worth $17,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. increased its position in shares of RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after acquiring an additional 79 shares during the period. McDonough Capital Management Inc grew its stake in RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock worth $603,000 after purchasing an additional 80 shares in the last quarter. Guardian Wealth Advisors LLC NC increased its holdings 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 purchasing an additional 82 shares during the period. Foster Victor Wealth Advisors LLC raised its position in RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after purchasing an additional 82 shares in the last quarter. Finally, CLG LLC lifted its holdings in shares of RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was 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 now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of RTX 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 now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Stock Up 1.4%

Shares of RTX stock opened at $144.64 on Monday. The stock's fifty day moving average price is $134.87 and its 200 day moving average price is $128.46. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The company has a market cap of $193.23 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 2.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, research analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.88%. RTX's dividend payout ratio is currently 79.77%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RTX. Susquehanna cut their price target on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Cowen reissued a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a report on Wednesday, April 23rd. UBS Group increased their price objective on shares of RTX from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $161.12.

RTX 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.

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