Truist Financial Corp Lowers Stake in RTX Corporation (NYSE:RTX)

Truist Financial Corp trimmed its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,216,138 shares of the company's stock after selling 25,203 shares during the quarter. Truist Financial Corp owned about 0.17% of RTX worth $293,550,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in RTX during the 1st quarter valued at about $26,000. 10Elms LLP purchased a new stake in RTX during the 4th quarter valued at about $29,000. Fairway Wealth LLC purchased a new stake in RTX during the 4th quarter valued at about $31,000. Picton Mahoney Asset Management grew its position in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Finally, Greenline Partners LLC purchased a new stake in RTX during the 4th quarter valued at about $34,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 0.9%

NYSE RTX opened at $145.80 on Friday. RTX Corporation has a 52 week low of $99.42 and a 52 week high of $149.26. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $194.78 billion, a P/E ratio of 42.76, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. The stock's 50-day moving average price is $137.24 and its 200-day moving average price is $129.26.

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

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 1.87%. RTX's payout ratio is 79.77%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Susquehanna cut their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Royal Bank Of Canada dropped their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company raised their price target on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Finally, Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. The trade was 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 company insiders.

RTX Company 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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