Wolff Wiese Magana LLC Reduces Position in RTX Corporation (NYSE:RTX)

Wolff Wiese Magana LLC cut its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 14.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,530 shares of the company's stock after selling 3,034 shares during the quarter. RTX comprises approximately 1.7% of Wolff Wiese Magana LLC's investment portfolio, making the stock its 17th biggest holding. Wolff Wiese Magana LLC's holdings in RTX were worth $2,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RTX. 10Elms LLP purchased a new stake in RTX in the fourth quarter valued at $29,000. Fairway Wealth LLC purchased a new stake in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management boosted its holdings 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 purchasing an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new stake in RTX in the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX in the fourth quarter valued at $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RTX shares. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Wells Fargo & Company upped their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada decreased their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Susquehanna decreased their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Finally, Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $159.82.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred 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 now directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, 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 corporate insiders.

RTX Stock Performance

NYSE:RTX opened at $146.75 on Friday. 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 market capitalization of $196.05 billion, a P/E ratio of 43.04, a PEG ratio of 2.65 and a beta of 0.63. The company has a 50 day moving average price of $133.43 and a 200 day moving average price of $127.48. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.26.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.85%. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is presently 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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