Stonegate Investment Group LLC Sells 33,931 Shares of RTX Co. (NYSE:RTX)

Stonegate Investment Group LLC lessened its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 28.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,909 shares of the company's stock after selling 33,931 shares during the quarter. Stonegate Investment Group LLC's holdings in RTX were worth $8,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Bear Mountain Capital Inc. bought a new stake in shares of RTX during the fourth quarter worth $25,000. Strengthening Families & Communities LLC acquired a new position in shares of RTX during the third quarter worth $28,000. Planned Solutions Inc. acquired a new position in shares of RTX during the fourth quarter worth $30,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company's stock worth $32,000 after purchasing an additional 345 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company's stock worth $34,000 after purchasing an additional 127 shares during the period. Institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the business's stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company's stock, valued at $64,592,832.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the company's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now directly owns 11,676 shares of the company's stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the company's stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company's stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold a total of 127,547 shares of company stock valued at $12,553,645 over the last three months. Corporate insiders own 0.13% of the company's stock.

RTX Stock Down 0.9 %

Shares of NYSE RTX traded down $0.91 during trading on Tuesday, hitting $101.53. 5,421,537 shares of the company traded hands, compared to its average volume of 8,106,685. The business's fifty day moving average is $95.80 and its 200 day moving average is $87.92. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The firm has a market capitalization of $134.98 billion, a price-to-earnings ratio of 39.81, a P/E/G ratio of 1.83 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business's quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX's payout ratio is presently 92.55%.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of RTX from $95.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, April 24th. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Susquehanna lifted their price target on shares of RTX from $110.00 to $119.00 and gave the stock a "positive" rating in a report on Wednesday, April 24th. Bank of America boosted their target price on shares of RTX from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $120.00 target price on shares of RTX in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $96.93.

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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