Stablepoint Partners LLC Trims Stake in RTX Co. (NYSE:RTX)

by · The Cerbat Gem

Stablepoint Partners LLC trimmed its stake in RTX Co. (NYSE:RTX – Free Report) by 2.8% in the 1st quarter, HoldingsChannel reports. The firm owned 17,906 shares of the company’s stock after selling 514 shares during the period. Stablepoint Partners LLC’s holdings in RTX were worth $2,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Norges Bank purchased a new stake in shares of RTX in the 4th quarter worth $1,745,644,000. GAMMA Investing LLC increased its stake in shares of RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after buying an additional 3,164,844 shares during the period. Amundi boosted its holdings in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after buying an additional 2,854,928 shares during the period. Finally, Capital Wealth Planning LLC bought a new position in RTX in the 4th quarter worth $216,340,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 0.3%

RTX opened at $138.99 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $99.07 and a 52 week high of $139.50. The firm has a 50-day simple moving average of $129.50 and a two-hundred day simple moving average of $125.61. The company has a market capitalization of $185.68 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. Analysts forecast that RTX Co. will post 6.11 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 12th. Investors of record on Friday, May 23rd will be issued a $0.68 dividend. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.96%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. Susquehanna dropped their target price on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. UBS Group upped their target price on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Wells Fargo & Company upped their target price on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $159.82.

Get Our Latest Research Report on RTX

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now directly owns 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. 0.15% of the stock is owned by insiders.

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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