Wealth Enhancement Advisory Services LLC Sells 265,626 Shares of RTX Corporation (NYSE:RTX)

Wealth Enhancement Advisory Services LLC lessened its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 27.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 719,636 shares of the company's stock after selling 265,626 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.05% of RTX worth $95,323,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of RTX. 10Elms LLP bought a new stake in RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC bought a new stake in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC bought a new stake in RTX in the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX in the fourth quarter valued at approximately $39,000. Institutional investors own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the 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 directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the 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 completion of the transaction, the vice president now owns 9,546 shares of the company's stock, 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. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank Of Canada dropped their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Susquehanna lowered their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird upgraded 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 research note on Wednesday, March 19th. Finally, Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, RTX has a consensus rating of "Buy" and an average price target of $159.82.

RTX Trading Down 1.8%

Shares of NYSE:RTX opened at $145.81 on Friday. The company has a market capitalization of $194.80 billion, a P/E ratio of 42.76, a P/E/G ratio of 2.64 and a beta of 0.63. RTX Corporation has a 1 year low of $99.07 and a 1 year high of $149.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The business's 50 day simple moving average is $133.06 and its 200 day simple moving average is $127.23.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, research analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

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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