Bryn Mawr Capital Management LLC Cuts Stock Holdings in RTX Corporation (NYSE:RTX)

by · The Cerbat Gem

Bryn Mawr Capital Management LLC decreased its holdings in shares of RTX Corporation (NYSE:RTXFree Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,526 shares of the company’s stock after selling 5,792 shares during the quarter. RTX accounts for approximately 1.1% of Bryn Mawr Capital Management LLC’s portfolio, making the stock its 17th largest position. Bryn Mawr Capital Management LLC’s holdings in RTX were worth $18,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bridgewater Advisors Inc. purchased a new stake in shares of RTX during the first quarter valued at approximately $1,110,000. Midwest Professional Planners LTD. boosted its stake in shares of RTX by 29.6% during the first quarter. Midwest Professional Planners LTD. now owns 20,631 shares of the company’s stock valued at $2,733,000 after purchasing an additional 4,715 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in shares of RTX by 0.4% during the first quarter. Kornitzer Capital Management Inc. KS now owns 126,623 shares of the company’s stock valued at $16,772,000 after purchasing an additional 480 shares during the period. Larson Financial Group LLC boosted its stake in shares of RTX by 2.7% during the first quarter. Larson Financial Group LLC now owns 13,718 shares of the company’s stock valued at $1,817,000 after purchasing an additional 361 shares during the period. Finally, Sage Mountain Advisors LLC boosted its stake in shares of RTX by 13.6% during the first quarter. Sage Mountain Advisors LLC now owns 8,757 shares of the company’s stock valued at $1,160,000 after purchasing an additional 1,047 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president owned 9,546 shares of the company’s stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were 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 directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a “market perform” rating in a report on Friday. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a report on Wednesday, April 23rd. Finally, Susquehanna decreased their price objective on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating, fourteen have assigned 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 target price of $162.61.

Get Our Latest Stock Report on RTX

RTX Stock Up 1.8%

Shares of RTX stock opened at $149.47 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a twelve month low of $101.52 and a twelve month high of $150.22. The stock has a 50 day moving average of $139.16 and a 200 day moving average of $130.49. The stock has a market cap of $199.68 billion, a P/E ratio of 43.83, a P/E/G ratio of 2.73 and a beta of 0.64.

RTX (NYSE:RTXGet 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 firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. As a group, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.82%. RTX’s payout ratio is currently 79.77%.

RTX Company Profile

(Free Report)

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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