WASHINGTON TRUST Co Reduces Position in RTX Corporation (NYSE:RTX)

WASHINGTON TRUST Co lowered its holdings in RTX Corporation (NYSE:RTX - Free Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 186,116 shares of the company's stock after selling 5,575 shares during the period. RTX comprises 0.9% of WASHINGTON TRUST Co's portfolio, making the stock its 24th largest position. WASHINGTON TRUST Co's holdings in RTX were worth $24,653,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Insight Inv LLC boosted its stake in shares of RTX by 2.4% during the 1st quarter. Insight Inv LLC now owns 18,833 shares of the company's stock valued at $2,495,000 after buying an additional 447 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in RTX in the first quarter valued at $26,000. Arbor Investment Advisors LLC raised its holdings in RTX by 17.5% in the first quarter. Arbor Investment Advisors LLC now owns 2,684 shares of the company's stock valued at $356,000 after acquiring an additional 400 shares in the last quarter. Red Cedar Investment Management LLC boosted its stake in RTX by 67.7% during the 1st quarter. Red Cedar Investment Management LLC now owns 17,003 shares of the company's stock valued at $2,252,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in RTX by 91.8% during the 1st quarter. Valley National Advisers Inc. now owns 1,596 shares of the company's stock worth $211,000 after acquiring an additional 764 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Price Performance

Shares of NYSE:RTX opened at $144.64 on Monday. The firm's 50 day moving average is $134.87 and its two-hundred day moving average is $128.46. The firm has a market capitalization of $193.23 billion, a P/E ratio of 42.42, a PEG ratio of 2.61 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26.

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

RTX Announces Dividend

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

Wall Street Analyst Weigh In

RTX has been the topic of a number of recent analyst reports. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Finally, Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $161.12.

Insider Activity at RTX

In other RTX 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 value of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction 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 transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents 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 currently owned by insiders.

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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