Townsquare Capital LLC lowered its stake in RTX Corporation (NYSE:RTX - Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 208,142 shares of the company's stock after selling 37,565 shares during the quarter. Townsquare Capital LLC's holdings in RTX were worth $27,571,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of RTX during the first quarter valued at approximately $26,000. 10Elms LLP bought a new position in shares of RTX during the fourth quarter valued at approximately $29,000. Greenline Partners LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $34,000. McClarren Financial Advisors Inc. bought a new position in shares of RTX during the first quarter valued at approximately $44,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $43,000. Institutional investors own 86.50% of the company's stock.
Insider Buying and Selling at RTX
In related news, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction 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 transaction, the executive vice president owned 16,538 shares in the company, valued at $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. Insiders sold a total of 39,935 shares of company stock valued at $5,938,488 in the last ninety days. Corporate insiders own 0.15% of the company's stock.
RTX Stock Performance
Shares of RTX traded down $0.78 during mid-day trading on Friday, hitting $154.98. 3,666,241 shares of the company traded hands, compared to its average volume of 5,096,528. The stock has a market cap of $207.45 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.85 and a beta of 0.69. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. 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 stock has a 50-day moving average price of $147.87 and a two-hundred day moving average price of $135.46.
RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. RTX's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. Equities analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.
RTX Announces Dividend
The firm also recently announced 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 yield of 1.8%. RTX's dividend payout ratio (DPR) is 59.78%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. upped their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Susquehanna upped their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Bank of America upped their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.
Get Our Latest Stock Analysis on RTX
RTX Company Profile
(
Free Report)
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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