Gradient Investments LLC Lowers Stake in RTX Co. (NYSE:RTX)

Gradient Investments LLC lessened its position in RTX Co. (NYSE:RTX - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,404 shares of the company's stock after selling 26,517 shares during the quarter. Gradient Investments LLC's holdings in RTX were worth $17,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC grew its holdings in shares of RTX by 7.9% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company's stock valued at $141,000 after purchasing an additional 106 shares during the last quarter. Jacobsen Capital Management grew its stake in shares of RTX by 3.0% during the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company's stock valued at $327,000 after buying an additional 114 shares during the last quarter. Diligent Investors LLC lifted its stake in shares of RTX by 1.4% in the 4th quarter. Diligent Investors LLC now owns 8,781 shares of the company's stock valued at $739,000 after acquiring an additional 118 shares during the last quarter. Hummer Financial Advisory Services Inc boosted its holdings in RTX by 1.7% during the 1st quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company's stock valued at $715,000 after acquiring an additional 120 shares during the period. Finally, Lcnb Corp grew its position in RTX by 1.8% during the 4th quarter. Lcnb Corp now owns 7,065 shares of the company's stock worth $594,000 after acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In other news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following 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, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares of the company's stock, valued at approximately $13,166,366.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the business's stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company's stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,842 shares of company stock worth $13,603,426. 0.13% of the stock is owned by insiders.

RTX Stock Down 0.5 %

RTX stock traded down $0.49 on Friday, hitting $101.40. 13,324,869 shares of the stock traded hands, compared to its average volume of 7,489,805. The business's fifty day simple moving average is $96.70 and its 200 day simple moving average is $88.49. The firm has a market cap of $134.81 billion, a P/E ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analysts' expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. RTX's revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. As a group, sell-side analysts forecast that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be paid a $0.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. This is an increase from RTX's previous quarterly dividend of $0.59. RTX's dividend payout ratio is presently 92.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RTX. Wells Fargo & Company reissued an "overweight" rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. TD Cowen raised their price target on shares of RTX from $106.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, March 19th. Barclays upped their price objective on shares of RTX from $90.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday. Susquehanna raised their target price on RTX from $110.00 to $119.00 and gave the stock a "positive" rating in a research note on Wednesday, April 24th. Finally, Citigroup upped their price target on RTX from $95.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, April 24th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus 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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