RTX Co. (NYSE:RTX) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC reduced its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 27.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 203,692 shares of the company's stock after selling 75,623 shares during the period. Beacon Pointe Advisors LLC's holdings in RTX were worth $17,139,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Cary Street Partners Investment Advisory LLC boosted its holdings in RTX by 26.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company's stock worth $10,077,000 after buying an additional 28,910 shares in the last quarter. Mather Group LLC. increased its position in RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company's stock worth $1,153,000 after buying an additional 1,079 shares during the period. Rockline Wealth Management LLC purchased a new stake in RTX in the 4th quarter valued at approximately $2,438,000. AllGen Financial Advisors Inc. raised its position in shares of RTX by 12.8% during the 4th quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company's stock worth $2,720,000 after purchasing an additional 3,657 shares during the last quarter. Finally, PDS Planning Inc acquired a new position in shares of RTX in the 4th quarter valued at $356,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX traded down $0.48 during mid-day trading on Thursday, reaching $104.24. The company's stock had a trading volume of 4,880,056 shares, compared to its average volume of 7,945,135. The business has a 50-day simple moving average of $99.34 and a two-hundred day simple moving average of $90.29. The stock has a market cap of $138.59 billion, a P/E ratio of 40.88, a PEG ratio of 1.90 and a beta of 0.84. RTX Co. has a 1-year low of $68.56 and a 1-year high of $107.82. 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 (NYSE:RTX - Get Free Report) last announced its quarterly earnings data 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. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same period in the previous year, the business earned $1.22 EPS. The firm's revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts anticipate that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Thursday, May 16th. This is an increase from RTX's previous quarterly dividend of $0.59. RTX's payout ratio is currently 98.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 30th. Citigroup boosted their price target on shares of RTX from $95.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, April 24th. Susquehanna upped their target price on shares of RTX from $110.00 to $119.00 and gave the stock a "positive" rating in a research report on Wednesday, April 24th. TheStreet upgraded RTX from a "c" rating to a "b-" rating in a research report on Tuesday, January 23rd. Finally, Robert W. Baird raised their price target on RTX from $94.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, RTX currently has a consensus rating of "Hold" and a consensus price target of $96.93.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were 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 directly owns 636,759 shares of the company's stock, valued at approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated 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 transaction, the director now owns 129,120 shares of the company's stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold 120,042 shares of company stock valued at $12,266,459 over the last quarter. Corporate insiders own 0.13% of the company's stock.

About RTX

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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