First Horizon Advisors Inc. Sells 1,028 Shares of RTX Corporation (NYSE:RTX)

by · The Cerbat Gem

First Horizon Advisors Inc. cut its holdings in RTX Corporation (NYSE:RTX – Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,229 shares of the company’s stock after selling 1,028 shares during the period. First Horizon Advisors Inc.’s holdings in RTX were worth $4,534,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new position in shares of RTX during the 1st quarter worth approximately $26,000. 10Elms LLP bought a new stake in shares of RTX in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in RTX during the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management increased its stake in RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares during the period. Finally, Greenline Partners LLC acquired a new position in RTX in the 4th quarter valued at $34,000. 86.50% of the stock is owned by institutional investors.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred 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 sale, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Stock Performance

RTX stock opened at $145.80 on Friday. The business has a 50 day moving average of $136.83 and a 200-day moving average of $129.07. The company has a market capitalization of $194.78 billion, a P/E ratio of 42.76, a P/E/G ratio of 2.61 and a beta of 0.64. RTX Corporation has a 1 year low of $99.42 and a 1 year high of $149.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX’s dividend payout ratio is currently 79.77%.

Analysts Set New Price Targets

Several equities analysts have commented on RTX shares. Cowen reissued a “buy” rating on shares of RTX in a report on Friday, May 23rd. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, June 23rd. Wells Fargo & Company upped their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Finally, DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.12.

Get Our Latest Report on RTX

RTX 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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